Amid heightened global uncertainty and volatile market conditions, investors are being urged to rethink portfolio positioning with a sharper focus on risk management and diversification.In this edition of ETMarkets Smart Talk, Sahil Kapoor, Head of Wealth Products at 360 ONE Wealth, shares a cautious yet constructive outlook on equities, highlighting that while earnings may be nearing a trough, macro risks—particularly from rising crude prices and geopolitical tensions—continue to linger.Against this backdrop, Kapoor advises investors to stay underweight on segments such as midcaps, long-duration bonds, and US mega-cap technology stocks, where valuations and risks remain elevated.Instead, he emphasizes the importance of…