Europe’s auto exports to the U.S. could fall by just over 20% or 200,000 vehicles in 2025 if the new 25% tariff lasts for the whole year, French automotive consultancy Inovev said. The new tariff started April 3. It replaces the previous tariff of 2.5%. Inovev estimated total exports last year were just over 900,000, led by the Mercedes GLC, and Volvos XC90 and XC60. Volvo is owned by Geely of China. The U.S. is Europe‘s biggest auto export market, followed by Turkey with just over 600,000 and China’s close to 500,000. European sales to the U.S. – the EU…

I often talk about high-yielding closed-end funds that are great buys because, well, there are plenty of CEFs that are. Yes, even in unprecedented times like these. That’s because the best CEFs offer three things we love: Big dividends, with an average yield of 7.8% across the asset class. Bargain valuations, with average discounts to net asset value (NAV, or the value of a CEF’s underlying portfolio) of 5%. Proven performance, with 94% of CEFs posting positive returns (with dividends reinvested) over the last decade. Ninety. Four. Percent. Still, every once in a while, a CEF comes across my desk…

Name: Catherine Evans Firm: J.P. Morgan Wealth Management Location: San Francisco, CA Team Custodied Assets: $2.2 billion Background: Catherine Evans grew up in Northern California and developed a passion for travel while earning her degree in International Relations from Stanford University. After graduating, she worked in management consulting, focusing on strategic initiatives for companies, before going to business school at the University of California Berkeley. While there she became interested in personal finance and saw a direct link between her work for companies and how wealthy families manage their money—almost like a business. After returning to consulting at Oliver Wyman,…

Name: Mary Mullin Firm: Merrill Wealth Management Location: Boston, MA Team Custodied Assets: $1.6 billion Background: Mary Mullin grew up in Long Island and moved to Boston after graduating from the State University of New York Albany. In 1981, while working a waitressing job at night, she got her first at Merrill Lynch, working in the back operations center in, before quickly moving to the sales side. After training to become a financial advisor , she teamed up with her mentor, working together for years until he retired. In 1998, she finally built her own team, which today includes her…

As public stock markets sink and typical buyout funds slump, Dorrell’s $72 billion Stonepeak can boast it’s never lost money on an investment. In 2001, Michael Dorrell volunteered to move from the Sydney headquarters of Australian investment bank Macquarie to a backwater in its infrastructure investing specialty: the United States of America. “For many years, Macquarie didn’t take the U.S. all that seriously. That’s why a 25-year-old kid could be sent over here and be one of six people looking at this whole market,” explains Dorrell, now 51. “We had the market to ourselves.” The U.S., with its now $4…

Stocks around the world continue to slide on President Donald Trump’s nuclear tariff option. The recent actions from Washington have served to elevate uncertainty, raise global fear, push stock prices down, and increase animosity against America. Does Trump have a master plan? Is there a historical lesson we can use to help understand what may come? A Lesson From History? Today’s tariffs have caused many to reflect to 1930, when President Herbert Hoover signed into law the Smoot-Hawley Tariff Act. Although there are some differences between today’s tariff environment and the environment at that time, there are several similarities to…

Key News Asian equities had another significant sell-off overnight, as President Donald Trump and his advisors remained immune to financial pain as they stayed on script concerning tariffs over the weekend. Export and auto-heavy Japan suffered another significant sell-off as Mainland China and Hong Kong reopened following Friday’s market holiday and the Chinese government’s tariff retaliation. Indonesia, Thailand, and Vietnam were temporarily spared the pain due to the market holiday. Global equity markets have baked in the worst-case scenario in a shockingly quick time period as any investor utilizing leverage has been carried out feet first. After the market closed,…

Ignoring the crisis du jour (Trump’s Tariffs Induce Stock Market Meltdown) will be nearly impossible for anyone to ignore. It is dominating the news cycle and driving up prices of things you buy every day, like groceries. You may not notice bananas costing a few cents more per pound, but you will surely feel the pain of a “Tariff Fee” line item when you purchase your next car. Hence, this piece highlights eight investing mistakes when crushing tariffs are imposed on the world and the stock market tanks on the news. Donald Trump, in his second term as President, has…

The tariff steamroller ran over the stocks of some good companies in the first quarter and early April. That provides lots of candidates for my Casualty List, a roster of stocks that have been hit hard and that I believe have excellent recovery potential. The basic idea in investing is to buy low and sell high, Market declines offer an opportunity for the “buy low” part. Are we near a bottom? I can’t tell. But I know that many stocks are priced more attractively than they were at the mid-February peak. Today I’m adding five stocks to the Casualty List.…

The S&P 500 may only be down 18% from its peak, two points shy of the conventional definition of a bear market. But for anyone who owns that index, that technical distinction will hold little comfort. You know it when you see it. We’re in a vicious bear market, one that is likely to get worse before it gets better. While last week’s rout, the worst in stock markets since the depths of Covid, was caused by the self-inflicted misery of tariffs, the deep decline also reflects the inevitable collapse that afflicts overpriced stocks that are priced for perfection—once perfection…