Martin Cobb’s Not Guessing the Weather — He’s Driving Through It
A veteran investor lays out a steady, high-conviction path through market uncertainty with Adobe, Diageo, and Visa leading the charge.

Martin Cobb, Senior Vice-President of Equities at Lorne Steinberg Wealth Management, is not your typical market pundit. He doesn’t make bold year-end calls or place blind faith in forecasts dressed up as certainty. Instead, he leans into nuance. In his latest commentary, Cobb draws a simple yet striking parallel between the stock market and trying to grow grass — unpredictable, stubborn, and influenced by factors well beyond our control. Just like a weather forecast beyond three days, he suggests market predictions are often educated guesses at best. With the Middle East flaring up again and markets seemingly indifferent to geopolitical noise, he reminds investors that history favors buying when fear dominates. But there’s a critical caveat. In 2022, when Russia invaded Ukraine, valuations were sky-high and the market cracked. Today’s backdrop is different. Stocks may not be cheap, but the froth has cleared. Still, with the U.S. equity risk premium near zero, Cobb warns that returns might be modest unless investors choose wisely.
All-Weather Investing: The Subaru Over the Ferrari
Rather than gambling on the racetrack with a Ferrari-like strategy that dazzles in fair weather, Cobb endorses the Subaru approach. His “all-weather” philosophy means preparing for whatever terrain lies ahead. That’s where his top picks come into play — businesses built to last through economic squalls and market rallies alike. Adobe, Diageo, and Visa may seem like an eclectic mix at first glance, but dig deeper and they all share the same DNA. High-quality franchises, strong balance sheets, and secular growth drivers that are anything but cyclical.
