Investors, in an era where volatility whiplashes portfolios and headlines, are increasingly uncertain about which compasses to trust. Macro fears, rate hikes, geopolitical tension, inflation, and AI disruption have reshaped risk perceptions and left many fund allocators sitting on cash, waiting for clarity. That’s why this Forbes series speaks directly to the decision-makers managing real capital through real chaos. This time it’s growth investing. In this second installment, I sat down with David Souccar and Rob Hansen of Vontobel, a firm synonymous with quality growth investing. Unlike many chasing speculative stories, Vontobel’s discipline is rooted in predictable businesses, durable moats,…

Since the Trump Administration unveiled its reciprocal tariff policy on April 2, headlines have focused on the wide range of rates applied to different countries. Now, President Trump and other government officials are beginning to pivot towards other areas of global trade friction to accomplish their goal of reducing trade deficits. U.S. strategy appears to be shifting to the less obvious but often more harmful trade obstacles called non-tariff barriers. These NTB measures, including quotas, licensing requirements, product standards, digital taxes, and ownership restrictions, are significant obstacles to expanding U.S. exports across strategically important sectors such as agriculture, technology, media,…

In a world where financial security remains elusive for many, the concept of building wealth that spans generations might seem like a distant dream. Yet for young professionals and newly married couples, laying the groundwork for lasting financial legacy is not only possible—it’s essential. Wealth management begins with simple habits that compound dramatically over decades The fundamentals remain timeless: spend less than you earn, invest in low-cost index funds rather than paying hefty advisor fees, optimize your tax strategy, and make prudent decisions about major expenses like vehicles and housing. A used car or reasonable lease often outperforms a shiny…

Sometimes there’s a dividend play out there that we love—but it’s just the wrong time to buy it. That’s the story with an 11.6%-paying closed-end fund (CEF) that’s pretty well-known (for a CEF, that is!). It’s the Gabelli Equity Trust (GAB), run by Mario Gabelli, whom you may have seen on the cable news channels over the years. To get at why we’re dodging this well-run fund now, we need to first talk about a phrase you may have heard a lot more from said business channels lately: “soft data.” Ring a bell? Basically it refers to numbers that are…

Let’s talk about consumer staples dividend stocks today. If we’re heading for a slowdown then we need to be picky about our payouts. When the economy slows, discretionary spending is often punted but staples continue to be bought. Today we’ll discuss five dividends between 4.2% and 10.7%. These “must have” products can provide our portfolios with important recession-resistant qualities. Year-to-date staples have been flat and, in this market, that is great. Their sideways action has lapped the over-owned S&P 500 this year: Consumer staples stocks tend to have more stable operations that result in more stable share performance in turbulent…

Week in Review Asian equities were mostly higher this week as Hong Kong and Indonesia outperformed while Pakistan and Mainland China underperformed. It was a “roller coaster” week for tariff signaling as President Trump suggested he would lower tariffs soon and was beginning negotiations with China, while China’s Ministry of Commerce stated that no talks with the US had begun yet on trade. Online education and educational technology provider TAL Education was the first China internet company to report earnings for Q1 2025, missing estimates on revenue, net income, and earnings per share in its Thursday morning report. The company…

Portfolio managers investing in non-U.S. stocks have been trying to get investors’ attention for years, pointing out that valuation multiples overseas have grown much cheaper than stocks in the U.S. since the Financial Crisis, and this year their patience has finally been rewarded. The MSCI EAFE index, covering stocks in 21 developed markets excluding the U.S. and Canada, is up 7% this year, significantly outperforming the 7% decline for the S&P 500 index in the U.S. It represents a small dent in the decades-long disparity between the two—JPMorgan reports that from the second half of 2008 through the end of…

On a recent visit, there was little of the hand-wringing and doomsaying expressed by many U.S. retailers. Are Americans overreacting? On a recent business trip to the U.K. and Eurozone, I was struck by the apparent nonchalance of retail industry executives there about the U.S. tariff crisis when, here at home, the headlines have been reporting the story in near-apocalyptic terms. Is Europe somehow insulated from the fallout, or is there something else going on that we Americans are missing? Here at home, Wall Street forecasters are signaling the likelihood of a recession, economists are predicting a new round of…

TAL Education Q1 Earnings Overview Online education company TAL Education missed on the big three (revenue, net income, and earnings per share), despite top-line revenue growth increasing by +42% year-over-year, as selling, marketing, administrative expenses increased to $336 million from $24 million YoY, which weighed on bottom line net income and EPS. The company only used $13.1mm of its $490.7mm share repurchase program, which is strange to me. Thus far, no analyst has asked management about relisting in Hong Kong. I will provide a Hong Kong relisting update via Twitter (@ahern_brendan). Revenue increased +42% to $610 million from $429 million,…

The first graph below is that of the monthly cycle of oil. Note that it falls through 2025. When this graph was first generated in the autumn of 2024, I thought that it projected the effect of the new administration’s efforts to increase energy production. Thus far, this appears to be the case. Chart 1: Monthly Oil Cycle The price action of the last few months has been instructive in confirming the bearish view. The next chart is a histogram of the monthly expected return of oil. The seasonal strong period has not lifted the price. Oil quotes have fallen…