We review 4q21 performance and update our investment outlook for 2022. With guest speaker Natasha Sarkaria, Investment Strategist, BlackRock. The title of the talks is "Through The Looking Glass: a curiouser new paradigm" as we enter a topsy-turvey world where equity is for income and bonds are for risk. Inflation is surging, real yields are negative, and investors have been forced to up-risk portfolios despite stretched valuations. We explore multi-asset landscape through the prism of macro factors: growth, interest rates and inflation, as well as specific asset class exposures.