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April 13, 2026 | Season 8 | Episode 11 Oil jumps above $100, peace talks falter, and markets try to price a world where geopolitical risk refuses to stay contained. We walk through what’s moving stocks, bonds, and commodities right now and why “waiting for the all clear sign” can be a costly investing habit. We also drop a timely reminder on tax season deadlines and last-chance retirement contributions, because real-life money decisions don’t pause when headlines get loud. Then we zoom out and ask a bigger question: have we seen this movie before? The 1956 Suez Crisis delivers an uncanny rhyme with today’s oil chokepoints and alliance friction, and it highlights something investors often overlook: staying invested matters, but where you invest matters too when power and productivity shift. We break down how US leverage helped reshape the postwar order, and what that kind of hinge-point can mean for long-term portfolio strategy and global diversification. From there we come back to the market tape: inflation heat, higher Treasury yields, early earnings results, and the hope that tech and AI-driven growth can offset a negative news cycle. We also hit a few standout themes from Barron’s, including Elon Musk’s “convergence” idea around SpaceX, Starlink, Tesla, and AI infrastructure, before pivoting to an unglamorous but durable corner of the market with railroads like Canadian Pacific Kansas City. We close with the elephant in the room, the US deficit, rising debt projections, and policy scenarios investors quietly debate, from debt swaps to financial repression. If you found this useful, follow the show, share it with a friend who watches markets closely, and leave a review so more listeners can find us. ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

April 6, 2026 | Season 8 | Episode 10 Oil is hovering near $110, ceasefire rumors are colliding with strike reports, and markets are trying to price the unpriceable in real time. We sit down to sort signal from noise and connect geopolitics in the Middle East to the practical question every investor is asking: what changes next for inflation, interest rates, and portfolio risk? We walk through two big strategic lessons that nations tend to learn during conflict. The first is the uncomfortable incentive created around nuclear capability and deterrence. The second is the push for self-reliance: energy independence, control of rare earth minerals, and reshoring critical manufacturing like semiconductors and chip technology. Those themes are not abstract policy debates, they show up in sectors, supply chains, and long-term capital spending that can reshape markets for years. Then we zoom in on the data investors trade on: a stronger-than-expected U.S. jobs report, cooling wage growth, and the ongoing reality that healthcare hiring is a core engine of the economy. From there, we dig into stock valuation the way professionals do, including why price-to-earnings can look calmer while free cash flow tells a different story when AI and data center capex surges. We also explore consumer “wealth effect” risk, federal deficit spending as a tailwind that may not last forever, and why even a place like Las Vegas is trying to reinvent itself from casino floors to tech, logistics, and healthcare. If you care about investing, market volatility, geopolitical risk, energy security, and how to think several steps ahead, this conversation is built for you. Subscribe, share with a friend who follows markets closely, and leave a review with the one theme you think will matter most over the next year. ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

March 30, 2306 | Season 8 | Episode 9 Oil shocks don’t stay in the oil market. They leak into inflation, interest rates, earnings expectations, and then straight into your portfolio. We open with the late-quarter pullback that has stocks down meaningfully year to date, and we explain why the Middle East conflict and the Strait of Hormuz matter even for investors who never touch an energy stock. When crude hovers around $100, the question is not just “will prices rise,” it’s “what breaks if they do.” We zoom out to the policy choices that shaped the modern energy map, including America’s mid-century dominance in oil and the Mandatory Oil Import Program that helped set the stage for OPEC. That history gives us a clearer lens on today’s push for energy independence, especially across Europe, India, China, and Japan, and why the scramble can accelerate renewables, LNG build-outs, and electric vehicles. We also talk through an uncomfortable but real geopolitical takeaway: nuclear deterrence incentives may be changing after the lessons of Ukraine, Iran, Libya, and North Korea, and that shift can influence long-run global stability and inflation expectations. From there, we bring it back to markets and decision-making. We break down why higher energy prices can be both inflationary and growth-slowing, how that shows up in Treasury yields, and what we’re watching in S&P 500 levels and volatility. We also cover private credit risks and why markdowns can be painful without necessarily becoming a 2008-style systemic event, then pivot to opportunities and watchlists in tech as AI spending pressures short-term free cash flow while enabling new enterprise software winners. We wrap with a contrarian value look at UPS and what could make the turnaround real. If this helped you think more clearly about oil, inflation, and the 2026 market outlook, subscribe on Apple Podcasts or Spotify, share the show with a friend, and leave a review so more investors can find it. ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

March 23, 2026 | Season 8 | Episode 8 One Middle East headline can knock Dow futures down hundreds of points, and the next can launch a rally just as fast. That kind of market volatility is exhausting, but it’s also a test of whether we’re investing with a plan or just reacting to the news. We walk through what the early-morning whipsaw in stocks, oil, and Treasury yields reveals about geopolitical risk and portfolio management. Then we get practical about investing psychology: how fear and greed show up as panic, euphoria, and the expensive urge to “do something.” We lean on ideas from James Clear’s Atomic Habits to focus on daily patterns that create clear thinking, and we share simple tools that keep us grounded when the media cycle is trying to hijack our attention. From there, we connect the dots to the bigger macro picture: inflation pressure from higher energy prices, shifting expectations for Federal Reserve rate cuts, and why input costs like the producer price index can matter before consumers feel it. We also touch on a less obvious driver of inflation and growth, the artificial intelligence buildout and rising chip and component prices, plus why gold can behave in surprising ways when rates move. Finally, we zoom out with history, comparing modern trade tensions and conflict to the Napoleonic era and the long-tail consequences that still shape today’s world, including Iran’s memory of humiliating treaties and why that matters for current sentiment. Subscribe, share this with a friend who’s stressed by the markets, and leave a review so more people can find the show. What’s the one habit that helps you stay calm when headlines hit? ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

March 16, 2026 | Season 8 | Episode 7 We track how the Strait of Hormuz turns geography into leverage, pushing oil prices toward the level that can rattle inflation, rates, and stocks. We also connect war-driven energy shocks to the Fed’s next decision and then pivot to why Microsoft and Nvidia may look mispriced despite nonstop AI headlines.  • geography as the constraint technology cannot erase  • the Strait of Hormuz as a live chokepoint for oil prices  • how Iran can use shipping disruption as strategic leverage  • World War I Dardanelles and Gallipoli as modern parallels  • the English Channel lesson and why narrow waterways shape war  • China’s Malacca Dilemma and Taiwan-related energy vulnerability  • oil’s link to inflation expectations and Treasury yields  • deficit and debt-servicing risk as a secondary market shock  • key war headlines including escorts and regional spillovers  • the week ahead for the Federal Reserve and market pricing  • why market narratives fail with Bitcoin and clean energy moves  • the valuation case for Microsoft via Azure, OpenAI, and Copilot  • what to watch at Nvidia GTC including inferencing and supply ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

March 9, 2026 | Season 8 | Episode 6 We map how the Iran conflict is pushing oil above $100 and why that single move can hit everything from stock futures to the AI trade. We also use history to stress-test scenarios, then close with concrete portfolio and retirement-tax tactics for staying steady in a volatile tape.  • pre-market snapshot of equities, oil, and Treasury yields  • using volatility as a portfolio gut check and risk-tolerance test  • why the Strait of Hormuz matters to global oil prices  • oil market inelastic demand and the marginal barrel setting prices  • what 1973, 1990, and 2022 suggest about post-spike returns  • two scenario framework for conflict duration and market impact  • Iran’s modern history from Qajar rule to the 1953 coup to 1979  • how higher energy prices flow into AI data centers and capex decisions  • key headlines on strategic reserves, inflation data, and policy risk  • RMD planning, qualified charitable distributions, and asset location basics  For more information, please visit our website at www.heroldlantern.com. ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

March 2, 2026 | Season 8 | Episode 5 We track a fast-moving conflict in Iran, explain how oil shocks and safe-haven flows hit stocks and bonds, and place the turmoil in a century-spanning Middle East context. Then we shift to earnings, jobs data, AI’s pressure on software, utilities’ power surge, airlines, and income strategies. • war escalation and immediate market impact • oil spike, gold strength, dollar bid • 10‑year yield dynamics and inflation risk • historical arc from 19th century empires to a reordered Middle East • OPEC supply signals and shipping insurance stress • earnings slate and February jobs setup • AI demand for power and utility growth cases • airline valuation debate amid travel uncertainty • rethinking 60/40 with annuities and global equities Subscribe on Apple Podcasts and Spotify, and visit www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

February 17, 2026 | Season 8 | Episode 4 We trace how AI fear is hitting tech, why foreign markets are gaining on a weaker dollar, and how history—Greenland negotiations and central bank fights—frames today’s headlines. We add actionable ideas in dividend ETFs, Stellantis, and EXOR, and explain Medicare’s AI pilot. • AI disruption risk versus productivity upside • dollar trends and global equity flows • Greenland as a strategic bargaining chip • Hamilton to Jackson and the bank wars • Panic of 1837 as policy cautionary tale • futures, earnings, and AI supply chain pressure • dividend ETF options with international tilt • Stellantis valuation, risks, and catalysts • EXOR’s NAV discount and Ferrari exposure • GDP drivers: productivity and population • Medicare’s AI prior authorization pilot scope Thank you for listening to Mr. Keith Lantern This podcast is available on most platforms, including Apple Podcasts and Spotify For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

January 26, 2026 | Season 8 | Episode 3 We track a fast-moving market where gold and silver surge as currencies wobble, deficits widen, and geopolitical shocks stack up. We connect today’s macro stress to Gilded Age echoes and end with a practical take on AI agents reshaping cybersecurity risk and opportunity. • debasement trade lifting gold, silver, and other commodities • dollar, yen, and euro weakness alongside EM currency strength • shutdown risk and tariff threats tilting confidence • Japan’s fiscal push echoing Truss-era bond volatility • equities’ upside versus bonds’ debasement drag • Davos signals and US–Europe friction on trade and security • Gilded Age parallels in tech disruption and inequality • silver’s industrial demand, supply constraints, and volatility • earnings calendar and FOMC watch for forward guidance • identity-first cybersecurity in an agent-driven world For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

January 20, 2026 | Season 8 | Episode 2 Markets wake to a sharper geopolitical edge as U.S.–Europe tensions rise over Greenland and investors rethink traditional havens. We connect policy moves to asset flows, then share specific stock ideas across payments, biotech, coffee, and energy gear. • Postwar order under strain and shifting spheres of influence • Dollar and Treasuries lose some haven appeal amid deficits • Rotation toward gold, silver, copper, and real estate • Europe’s remilitarisation risk and tariff escalation paths • Iran’s protests tied to currency collapse and food inflation • Japan’s long yields jump and global rate knock-ons • Market tape: futures slide, banks and megacaps under pressure • NYSE explores 24/7 tokenized securities trading • Stock ideas: Shift4 Payments, biotech acquisition targets, Starbucks turnaround • Energy services pick: Cactus and FlexSteel international opportunity This podcast is available on most platforms, including Apple Podcasts and Spotify. For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

January 5, 2026 | Season 8 | Episode 1 We unpack the shock capture of Nicolás Maduro, why refiners rallied on heavy crude math, and how history’s forgotten shocks can sharpen today’s market judgment. Then we map 2025’s finish, 2026 scenarios, and concrete income ideas that balance risk and yield. • geopolitical signal from Maduro capture and market reaction • refinery advantage from Venezuelan heavy crude • currency and bond moves across Latin America • lessons from Panama and Black Tom for risk perception • 2025 performance recap and 2026 return scenarios • futures, commodities, gold and volatility read • macro calendar: ISM, JOLTS, payrolls, sentiment • Venezuela reserves and oil price paths near and long term • energy positioning: refiners, services, midstream • Charles Schwab’s pivot, earnings drivers and growth lanes • income strategies: dividend ETFs, pipelines, REITs, BDCs, bonds For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

December 29, 2025 | Season 7 | Episode 48 We review why 2025 defied cautious forecasts, from AI capex and policy-driven depreciation to lower oil and a powerful wealth effect, and we frame 2026 through Munger’s lens of patience and clarity. We flag key risks, make the case for a return to quality, and explore copper’s setup alongside a closer look at Salesforce. • Munger’s principles on patience, reading, and realism • Why 2025 beat expectations despite tariffs and inflation fears • AI buildout surge fueled by accelerated depreciation • Oil’s drop easing costs and supporting margins • Wealth effect and democratized access driving flows • Bonds’ weak real returns pushing investors into equities • Risks from rates above 4.25% and geopolitics • Barron’s angle on quality stocks and FCF ETFs • Salesforce as an AI-enabled operator, not a victim • Commodities review with copper’s 2026 bull case This podcast is available on most platforms, including Apple Podcasts and Spotify For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

December 22. 2025 | Season 7 | Episode 47 We trace a line from the contested elections of the late 1800s to today’s market mood, then dig into AI-driven pricing, chip supply pinch points, prediction markets, and the real progress of robotaxis. The goal is to separate noise from durable drivers of earnings and risk. • Parallels between 1876–1880 elections and present-day policy debates • AI’s role in personalized pricing and margin expansion • Market tone, rates, and a commodities surge led by gold • Upcoming GDP, durable goods, and confidence data • Earnings growth scenarios tied to stable policy and margins • HBM-driven memory shortages and downstream effects • Prediction markets inside trading apps and data value • Robotaxis now, Tesla versus Waymo, and adoption questions This podcast is available on most platforms, including Apple Podcasts and Spotify. For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

December 15, 2025 | Season 7 | Episode 46 We connect the fiercely contested 1876 election to today’s fractured politics and market structure, then pivot to concrete year-end tax moves, the Fed’s latest actions, and where real bubbles may be forming. We close with a pragmatic look at Barron’s 2026 stock ideas, sector rotations, and a measured quantum bet. • lessons from the Tilden–Hayes standoff and the end of Reconstruction • parallels between historic legitimacy fights and modern institutional strain • year-end tax tactics to avoid income cliffs and Medicare IRMAA • Fed rate cut, T-bill purchases, and a steeper yield curve • bubble watch shifting from public IPOs to private credit and AI builds • economic calendar preview for jobs, retail sales, and CPI • Barron’s 2026 outlook and ten stock ideas across sectors • rotations toward financials, industrials, healthcare, and small caps • Disney, Amazon, and Visa value cases amid AI adoption • quantum exposure through IBM with downside protection This podcast is available on most platforms, including Apple Podcasts and Spotify. For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern

December 8, 2025 | Season 7 | Episode 45 We trace how a weak yuan powers China’s record trade surplus despite tariffs, and why history with Japan’s yen still shapes today’s strategy. We map the U.S. pivot to talent and capital, the odds of a hawkish Fed cut, retiree tax moves for 2025, and two stock spotlights: Weyerhaeuser and Apple. • China’s $1T trade surplus and currency dynamics • Tariff rerouting through Southeast Asia, Mexico and Africa • Lessons from Japan’s Plaza Accord and export pricing • U.S. advantages in capital access, education and innovation • Market setup into the FOMC and earnings week • Retiree tax planning: RMD timing, QCDs, medical deductions • Weyerhaeuser asset value versus depressed earnings • Apple’s measured AI path, privacy focus and partnerships This podcast is available on most platforms, including Apple Podcasts and Spotify For more information, please visit our website at www.heroldlantern.com ** For informational and educational purposes only, not intended as investment advice. Views and opinions are subject to change without notice.  For full disclosures, ADVs, and CRS Forms, please visit https://heroldlantern.com/disclosure ** To learn about becoming a Herold & Lantern Investments valued client, please visit https://heroldlantern.com/wealth-advisory-contact-form Follow and Like Us on Youtube, Facebook, Twitter, and LinkedIn | @HeroldLantern