Active investors must navigate tides of news flow that can alter their perceptions of the companies they invest in and distract them from their original rationale for buying. Facing a news flow torrent, it takes a highly focused approach to screen out the noise and concentrate on the core investment case for each holding.
The first half of 2025 has been a case in point: tariffs have dominated the headlines, and much published analysis has majored on companies’ tariff exposures, often to the exclusion of other important considerations. Mentions of tariffs and trade wars in corporate earnings calls skyrocketed relative to other common business and economic terms during the first half of 2025, according to Bloomberg data (Display).
