Howard Capital Management Reviews - Wealth Watch & Global Weekly Summary
Tailored Investment Solutions from Howard Capital Management and J. Martin Wealth
Located in Roswell, Georgia, Howard Capital Management (HCM) is an SEC-Registered Investment Advisor Firm. They aim to deliver professional money management solutions to individuals seeking growth while maintaining a prudent investment approach. The firm offers the use of the HCM-BuyLine®, developed by Vance Howard, CEO and Portfolio Manager at Howard Capital Management Inc., which has been their cornerstone since 1996. This unique stop-loss safeguard is crafted to provide timely guidance during market volatility. The HCM-BuyLine® effectively reduces downside risk by moving from equities to cash and cash equivalents while actively identifying opportunities to boost equity exposure during a market upswing.
J. Martin Wealth, based in Arizona, provides fiduciary financial advice tailored to help you meet your financial goals. Led by Jeff Martin, our team focuses on personalized investment strategies that align with your risk tolerance, time horizon, and unique objectives. Whether planning for retirement, managing your investments, or seeking comprehensive financial guidance, we are here to provide solutions that put your best interests first. Serving clients in Gilbert, Chandler, Maricopa, and throughout Arizona, we are committed to delivering transparent, client-centered service.
Howard Capital - Global Weekly Summary
Trump pauses tariffs and markets recover
April 11, 2025
- Posted By : Editorial Team
Investor uncertainty marked the market movements earlier this week, following President Trump’s tariff pronouncements last week. U.S. treasury yields jumped in response to selling pressure in the treasury markets. Subsequently, Trump announced a pause to the reciprocal tariffs on Wednesday. China, Canada, and Mexico tariffs were excluded from the pause. Global markets staged a recovery rally in response, though some uncertainty persisted. The U.S. dollar significantly depreciated this week, even as the Euro, Swiss Franc, and Yen appreciated. Canadian Prime Minister Mark Carney continues to lead his opponent Pierre Poilievre in opinion polls. Carney imposed a 25% tariff on U.S. cars, and China raised its tariffs to 125%. Taiwan became the first country to initiate trade talks with the U.S. after the tariff reprieve. Iran-U.S. Nuclear program talks will commence on Saturday in Oman. President Trump’s diplomatic envoy Steve Witkoff will be meeting President Putin in Russia.
Global Updates
- The MSCI All Country World Index recovered from an initial drop in global equity markets after the 90-day pause on the new Trump tariffs drove up investor sentiments. President Trump paused the tariff hikes on most countries while maintaining the base 10% tariff on those countries. Tariffs imposed on China, Canada, and Mexico were continued. The counter-tariffs on the U.S. planned by the European Union (E.U.) were also paused. European and Asian markets registered partial gains following this news. European Central Bank President Christine Lagarde has reiterated the bank’s willingness to deploy instruments for market stability
- The U.K.’s annual GDP growth rate for February beat expectations, coming in at 1.4%.
- The annual inflation in the EU eased to 2.2% in March due to a decline in energy and services costs.
- China raised its tariffs on U.S. goods to 125%, escalating from 84% last Friday. The U.S. had raised the levies on Chinese goods to 145% last week. China also filed a supplementary complaint with the World Trade Organization, regarding the Trump tariffs.
- China property sector behemoth Country Garden has received approval from a major bondholder group for its debt restructuring plan.
- Gold price surged past the $3,200 per ounce mark this week, driven by global uncertainties. Mining stocks have also benefited from the safe haven demand for precious metals.
- Saudi Arabia’s state oil firm Aramco has slashed its official selling price for May to $1.2 per barrel. China has raised its crude purchases for May due to price effects.
- Taiwan plans to include a $200 billion Natural Gas purchase agreement in its trade talks with the U.S. Taiwan President Lai Ching-te has in principle agreed to a zero tariff regime with the U.S.
- Taiwan Semiconductor Manufacturing Co (TSMC) reported a larger-than-expected 42% jump in its first quarter revenue to $25.6 billion, despite the market volatility.
- India’s Reserve Bank of India lowered its key repo rate by 25 bps to 6% this week to support economic growth and borrowing.
U.S. Equity
- The S&P 500, Dow Jones, and Nasdaq indices ended the week higher after a week of significant movements. The markets started the week lower, responding to larger-than-expected reciprocal tariffs announced on April 2 by President Trump. This included a major selloff in U.S. treasuries. On Wednesday, markets recovered after President Trump announced a pause in tariffs on most countries. Some uncertainty continued to pressure equity and bond markets despite the tariffs in limbo, including the drop in the U.S. dollar to 3 year lows. Taiwan became one of the first nations to initiate trade talks with the U.S. following the sweeping tariffs announced by the U.S. last week.
- Goldman Sachs lowered its U.S. GDP growth estimate to 1.3% for 2025, citing the economic slowdown expected due to supply chain disruptions, uncertainty and inflation. Goldman analysts also raised the probability of a recession in 2025 by 10 percentage points to 45%. Analysts now expect the Federal Reserve to advance its schedule for rate cuts to June, to counter the ongoing economic slowdown.
- Barclays lowered the price target on Charles River Laboratories in light of potential pharmaceutical tariffs.
- Delta Airlines reported better than expected first-quarter outcomes. Delta registered a higher-than-expected EPS of $0.46 on a $14.04 billion operating revenue. The airline’s CEO Ed Bastian withdrew the full year forecasts issued earlier in the year, citing stalled growth in the sector due to economic uncertainty.
- U.S. Steel stock price was down after President Trump reiterated his opposition to a foreign ownership of U.S. Steel. This has jeopardized the takeover bid by Nippon Steel.
- Carmax, the retailer of used cars, reported lower than expected fourth quarter outcomes of EPS of $0.58 and $6 billion in operating revenues. Carmax has not issued any long term targets and stepped away from the ones previously issued.
Fixed Income
- The Bloomberg U.S. Aggregate Bond Index recovered after initially declining this week.
- The U.S. 10-year Treasury yield rose sharply to 4.413%, and the yield on the 2-year note rose to 3.810% over the week.
- The U.S. Dollar Index sharply depreciated to a three-year low reading of 99.31 this week, even as the Euro, Swiss Franc and the Yen continued to appreciate to six-month highs.
HCM-030624-063.GWS
Wealth Watch: From the desk of Vance Howard
Don’t Look Down! We’re Looking One Year Out and History Likes the View
- Posted By: Vance Howard - April 21, 2025

The markets are just about untradable at this time. We are holding a lot of cash, and we will be patient. Believe it or not, this will pass. The volatility is extreme, and the movements have been breathtaking, but holding too much cash is also risky because all it will take is one tweet that one deal has been reached, and another 10% higher rally will happen in no time.
The market, on an intermediate-term and long-term basis, is way oversold and we think this is bullish.
According to Stansberry Research, the April 3-4 tumble is the fourth-worst two-day stretch in the market since 1950. Looking at the other top 10 two-day plunges, all occurred at the outset of genuine crises – the 1987 “Black Monday” plunge, the great financial crisis of 2008, and the outbreak of COVID-19 in 2020.
However, when one looks a year beyond these 10 other instances, the average return is a whopping 27.2%, with every single instance in the green, and the biggest one-year recovery at 59.2%. Look two years out, and the average return is 40.4%, with gains as high as 69.5%.
I wish I could say all is clear, but nobody, and I mean nobody, knows what to expect next. Once there is clarity, we still expect the market to move higher in the 3rd and 4th quarters.
The HCM-BuyLine® Explained
Would you like to see the history of the BuyLine® in action? Is this a different approach than what you are taking with your current financial advisor? Could the BuyLine® impact your financial plan?

Who is Vance Howard?
Vance Howard embarked on his professional career in the financial industry in 1992, establishing Chartered Financial Services, Inc. He subsequently founded Howard Capital Management, Inc. in 1999, a fee-only Registered Investment Advisor. Mr. Howard brings expertise in the analysis, creation, and execution of diverse trading strategies.
Prior to his focus on financial services, Mr. Howard founded Delta Waste Services in 1988, a waste management company he later sold in 1992. Additionally, he co-published investment-focused newsletters, "The Savvy Investor" and the "SI Intermediate-term Trader", which garnered an international readership across over 25 countries between 1992-1999.
Demonstrating a commitment to community, Vance has served on the Huntsville, Texas city council for four terms, including two terms as mayor pro tem. His civic involvement extends to roles such as Huntsville's City Finance Chairman, Chairman of the Huntsville/Walker County 911 Emergency Service, and board positions on the Houston/Galveston Economic Development Council and the District 910 Legal Grievance Committee. He is a former President and active member of the Huntsville Rotary Club.
Outside of the professional sphere, Vance collaborates with family members in the operation of the Bar C Ranch in Madisonville, Texas, where they specialize in raising registered longhorn cattle. His leisure interests include travel with his wife and children, cycling, kayaking, scuba diving, and hiking.
“We aim to take emotion completely out of the equation. Trading with emotions, in our opinion, ruins long-term returns.”
— VANCE HOWARD, CEO + PORTFOLIO MANAGER
Howard Capital Management, Inc, issues this communication. It is for informational purposes and is not an official confirmation of terms. It is not guaranteed as to the accuracy, nor is it a complete statement of the financial products or markets referred to. Opinions expressed are subject to change without notice. Howard Capital Management, Inc. may maintain long or short positions in the financial instruments referred to and transact as principal or agent. Unless explicitly stated otherwise, this is not a recommendation, offer, or solicitation to buy or sell, and any prices or quotations contained herein are indicative only. To the extent permitted by law, Howard Capital Management, Inc. does not accept any liability arising from using this communication. Howard Capital Management is an SEC-registered investment advisor that only does business where it is properly registered or is otherwise exempt from registration. SEC registration does not constitute an endorsement of the firm by the Commission nor indicates that the advisor has attained a particular skill or ability. Past performance is no guarantee of future results.
This newsletter is a publication of Howard Capital Management, Inc. It should not be regarded as a complete analysis of the subjects discussed, nor should the newsletter be construed as personalized investment advice. All expressions of opinion reflect the author's judgment as of the publication date and are subject to change. It should not be viewed as legal or tax advice. Always consult an attorney or tax professional regarding your legal or tax situation. There can be no guarantee that the HCM-BuyLine® indicator will perform as anticipated. Stoploss protection will not necessarily limit your losses to the desired amounts due to the limitations of the HCM-BuyLine®, market conditions, and delays in executing orders. It is not an actual stop-loss order that automatically sells securities in the portfolio at a certain price.