Supreme Court shocks markets. Tariffs return. CEOs turn cautiously optimistic. This week on The Lebenthal Report, Michael Hartzman and Dominic Tavella break down a volatile stretch in the markets — from the Supreme Court's ruling on tariffs to renewed uncertainty and an 800-point market swing. Then, returning guest Jeff Oak (Vistage Chair) joins the show to discuss the latest Vistage CEO Confidence Index (Q4 2025) — a leading indicator that tracks the sentiment of small and mid-sized business leaders across the country. Key themes:

• Why the market reaction to the tariff ruling was muted… then not.
• GDP disappointment and what it really means.
• Why CEOs are cautiously optimistic — but still defensive.
• Margin pressure, pricing power, and why 50% of CEOs expect to raise prices 4–6%.
• Why small businesses (75% of new jobs, 50% of national revenue) matter more than ever.
• And what business leaders can — and cannot — control in 2026.

As always, we focus on discipline over distraction — and long-term fundamentals over short-term noise. Subscribe for weekly market insights and thoughtful analysis.

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

After six weeks of market action, the S&P 500 is… exactly flat. Meanwhile, the Nasdaq is down, the Dow is up, value stocks are outperforming growth, and international markets are quietly leading the pack.

So what's really going on?

In this episode of The Lebenthal Report, Michael Hartzman and Dominick Tavella break down:

• The growing divergence between growth and value

• Why AI-related stocks are getting hit — and whether it's premature

• What history teaches us about "obvious" investment themes

• Why international and emerging markets are outperforming

• Whether gold, the dollar, and crypto are signaling peak liquidity

• And what true diversification actually looks like

They're joined by Dan Suzuki, CFA, Investment Strategist at Schroders, who offers a global perspective on AI, market concentration, currency trends, and why today's "inevitable" trade may not last forever.

From the Magnificent 7 pullback to international value strength, this episode tackles the big question: Are we witnessing a healthy reset — or the beginning of something bigger?

As always, AI is a tool — not a portfolio manager. Investment decisions require discipline, diversification, and perspective.

🎧 Listen now and stay informed.

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

The Magnificent 7 are struggling. The NASDAQ is negative. Gold just hit $5,000. Meanwhile, international markets are quietly surging — and small cap stocks are ripping higher. What's really going on? In this episode, Michael Hartzman and Dominick Tavella break down:

• Why Big Tech earnings weren't "good enough" for Wall Street
• Whether the AI spending boom is a bubble… or the next internet
• Why the rest of the market is outperforming the Magnificent 7
• International markets up 30–40% over the past year
• The real reason central banks are hoarding gold
• Why silver's wild swings require caution
• What the Federal Reserve is actually worried about
• The growing "no hire, no fire" job market trend
• A new New York State law requiring small businesses (10+ employees) to implement a 401(k) plan

Plus, we discuss how we're positioning client portfolios amid shifting leadership: small caps, mid caps, dividend stocks, and international exposure. Markets are rotating. Headlines are noisy. Discipline matters more than ever. 🎧 Tune in for perspective beyond the headlines.

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

In case you missed it, be sure to check out this encore episode of The Lebenthal Report, where Michael Hartzman and Dominick Tavella break down the sudden selloff tied to escalating geopolitical uncertainty, including the latest Greenland/NATO tensions and renewed tariff concerns. The big question for investors: is this a real economic deterioration — or market panic driven by unpredictable headlines?

Then they were joined by returning guest Howard Yaruss, economist, NYU professor, and author of Understandable Economics, to discuss what's really happening beneath the surface: the rising cost of U.S. debt, why foreign demand for Treasuries may be weakening, why gold is surging, and what "black swan" risks investors should actually worry about.

📘 Howard Yaruss' book: Understandable Economics 🌐 More info: howardyaruss.com

In case you missed it, we're replaying a timely episode of The Lebenthal Report that speaks directly to today's market environment.

Markets opened the year on a strong note, but headline risk and global uncertainty quickly came into focus. In this episode, we discuss how investors can stay grounded in fundamentals while navigating unpredictable news cycles.

Michael and Dominick are joined by Dr. Bobby Hoffman, author of The Paradox of Passion: How Rewards Covertly Control Motivation, to explore the psychology behind motivation, passion, and decision-making—and how those forces influence investor behavior.

Topics include:

• Why markets can handle bad news—but not uncertainty

• Headline risk versus economic fundamentals

• The real story behind "fear and greed"

• Why passion isn't always sustainable

• Self-control, long-term planning, and smarter financial decisions

If you're hearing this for the first time—or revisiting it with fresh perspective—this conversation is well worth a listen.

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

Markets were in decent shape early in 2026 — until headline risk came roaring back.

In this episode of The Lebenthal Report, Michael Hartzman and Dominick Tavella break down the sudden selloff tied to escalating geopolitical uncertainty, including the latest Greenland/NATO tensions and renewed tariff concerns. The big question for investors: is this a real economic deterioration — or market panic driven by unpredictable headlines?

Then we're joined by returning guest Howard Yaruss, economist, NYU professor, and author of Understandable Economics, to discuss what's really happening beneath the surface: the rising cost of U.S. debt, why foreign demand for Treasuries may be weakening, why gold is surging, and what "black swan" risks investors should actually worry about.

📘 Howard Yaruss' book: Understandable Economics 🌐 More info: howardyaruss.com

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

Markets opened the year on a strong note, but headline risk and global uncertainty are rising. In this episode of The Lebenthal Report, we discuss how investors can stay focused on fundamentals while navigating unpredictable news cycles.

We're joined by Dr. Bobby Hoffman, author of The Paradox of Passion: How Rewards Covertly Control Motivation, to explore the psychology behind motivation, passion, and decision-making—and how those same forces influence investor behavior.

Topics include: • Why markets can accept bad news—but not the unknown • Headline risk vs. economic fundamentals • The truth about "fear and greed" in investing • Why passion isn't always sustainable • Self-control, long-term planning, and better financial decisions

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

Markets closed out 2025 with strong gains — surprising many investors who expected recession risk, tariff-driven disruption, and renewed volatility. In this encore episode of The Lebenthal Report, Michael Hartzman and Dominick Tavella break down what powered the market's resilience, why AI and data center expansion could shape the 2026 narrative, what to watch from interest rates amid a shifting Federal Reserve leadership, and how a potential wave of tax refunds may provide meaningful stimulus early next year.

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

Markets closed 2025 with strong gains, surprising many who expected recession risk and tariff-driven disruption. In this episode of The Lebenthal Report, Michael Hartzman and Dominick Tavella break down what drove the year's resilience, why AI and data centers could dominate the 2026 narrative, what to expect from interest rates and the Fed transition, and how a potential wave of tax refunds could provide meaningful stimulus early next year.

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/

In this encore episode The Lebenthal Report, Author and Bloomberg News reporter Charlie Wells joined us to discuss his book What Happened to Millennials: In Defense of a Generation. Drawing from hundreds of hours of interviews with five Millennials from wildly different backgrounds — alongside hard data and economic context — Wells explains what really happened to this cohort's finances, careers, and lives. We dug into why Millennials were labeled "lazy" and "entitled" when the macro backdrop was anything but, how repeated shocks shaped their risk tolerance, spending, and investing habits, and why they're about to move from being the market's punching bag to its decision-makers. And yes, we talked about the big stuff: what Millennial leadership could mean for markets, housing, retirement policy, and voting blocs — plus whether the generation that survived three "once-in-a-lifetime" crises is actually the most battle-tested set of future CEOs and policymakers we've got. If you've ever wondered whether Millennials are unlucky, misunderstood, or quietly reshaping the economy while everyone's distracted by culture wars… this one's for you.

Lebenthal Global Advisors, LLC is a registered investment advisor. Lebenthal Financial Services, Inc is a FINRA registered Broker Dealer. The content of this podcast is intended for informational purposes only and is not intended to be investment advice. The views expressed in this podcast are subject to change based on market and other conditions. Information about the qualifications and business practices of Lebenthal Global Advisors, LLC is available on the SEC's website at www.adviserinfo.sec.gov._ Information about the qualifications and business practices of Lebenthal Financial Services, Inc and its representatives can be found on FINRA's BrokerCheck website, https://brokercheck.finra.org/