Innovation Meets Conviction

EP.04 - Building AI Foundations and Future Health Frontiers

In this fourth episode of Innovation Conviction, John Gross is joined by Nels Wangensteen and Ingrid Yin of MayTech Global Investments for part two of the 2025 webinar. The conversation explores the ongoing AI growth cycle—from infrastructure to applications and future embodiment. They examine AI’s emerging role in healthcare, from biomarker integration to robotic surgery. The team also dives into global portfolio positioning, evaluating U.S. dominance, emerging markets, and China’s outlook. Nels and Ingrid share their perspectives on risk, competitive threats, and why the runway for growth remains compelling across key innovation themes. ______________________________________________________________ (00:01:09) Nels outlines the three AI pillars and current investment focus (00:02:02) Building computing infrastructure and next phase of AI applications (00:03:30) Rise of AI agents and the path toward physical AI embodiment (00:04:44) AI's role in healthcare and rise of biometric trackers (00:06:34) Robotic surgery advancements with AI integration (00:07:41) U.S. portfolio dominance and global investment opportunities (00:09:01) Why Europe lags and emerging markets present upside (00:10:06) Cautious outlook on China despite recent stock rallies (00:11:57) Confidence in long-term growth runway for portfolio themes (00:13:47) Risks: disruption from new entrants and geopolitical concerns (00:16:30) Commoditization fears and evolving competitive threats in AI (00:17:48) Nvidia's dominant position and potential chip competition (00:19:23) Enterprise incumbents vs. new entrants in AI applications (00:20:07) FinTech outlook globally and why LATAM presents opportunity (00:21:34) Closing remarks and follow-up details for audience questions Links: John Gross on LinkedIn: https://www.linkedin.com/in/john-gross-cfa-caia-6b54788 [https://www.linkedin.com/in/john-gross-cfa-caia-6b54788] Nels Wangensteen on LinkedIn: https://www.linkedin.com/in/nelswangensteen [https://www.linkedin.com/in/nelswangensteen] MayTech Global Investments: https://www.maytechglobal.com/ [https://www.maytechglobal.com/] DISCLAIMERS MayTech is a registered investment adviser. Registration of an investment adviser does not imply a certain level of skill or training. The opinions expressed herein represent the views of MayTech’s management (or investment professionals) based on market conditions as of the date of this video and may change at any time without notice. We assume no obligation to provide an update to this video. Recipients are advised not to infer or assume that any securities, strategies, companies, sectors or markets described will be profitable or that losses will not occur. It should not be assumed that recommendations made herein or in the future will be profitable. The discussion in this podcast includes references to information from third party sources believed to be reliable; however, we make no representation as to its accuracy or completeness. For more information about MayTech you may visit the SEC’s Advisor Information website at https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=887879 Or contact us at info@maytechglobal.com.

EP.03 - From Silver Tsunami to Silicon Surge: Global Trends in 2025

In this third episode of Innovation Conviction, John Gross is joined by Nels Wangensteen and Ingrid Yin, co-founders and portfolio managers at MayTech Global Investments, to explore key developments shaping their global growth strategy. The team reviews standout performance from 2024, the continued dominance of AI, and how themes like Globalization 2.0 and the “silver tsunami” are influencing portfolio positioning in 2025. They offer grounded insights into valuation concerns, regional opportunities beyond the U.S., and sector strengths in healthcare and technology. Tune in for a deep analysis of what’s driving returns—and resilience—in global growth investing today.  _______________________________________________________________  (00:00:52) Introduction of hosts and background on MayTech Global Investments (00:01:54) Overview of the firm's long-term, high-conviction investment approach (00:03:07) 2024 performance review and market context (00:03:43) Continued earnings-driven growth and dominant investment themes (00:04:36) Emphasis on fundamentals over market noise (00:05:41) Key contributors within the technology sector (00:06:47) Regional performance, with focus on India and Latin America (00:07:20) Globalization 2.0 and shifts in global supply chains (00:09:06) Addressing valuation concerns amid strong returns (00:10:42) Nvidia's growth story and valuation context (00:12:11) AI volatility and DeepSeek's impact on market sentiment (00:13:56) Growth of domain-specific models and GPU demand (00:15:04) Competitive positioning of Nvidia and the broader AI landscape (00:16:22) Healthcare sector rebound and drivers of stock performance (00:18:27) Innovations in healthcare: robotics and preventative medicine (00:19:23) Demographic shifts and the "silver tsunami" in healthcare (00:20:14) U.S. tariffs and their potential effects on global trade and the portfolio (00:22:08) Portfolio resilience and pricing power in response to policy changes (00:23:04) Long-term secular trends continuing despite geopolitical uncertainty Links:   John Gross on LinkedIn: https://www.linkedin.com/in/john-gross-cfa-caia-6b54788 [https://www.linkedin.com/in/john-gross-cfa-caia-6b54788]  Nels Wangensteen on LinkedIn: https://www.linkedin.com/in/nelswangensteen [https://www.linkedin.com/in/nelswangensteen]  MayTech Global Investments: https://www.maytechglobal.com/ [https://www.maytechglobal.com/]    DISCLAIMERS MayTech is a registered investment adviser. Registration of an investment adviser does not imply a certain level of skill or training. The opinions expressed herein represent the views of MayTech’s management (or investment professionals) based on market conditions as of the date of this video and may change at any time without notice. We assume no obligation to provide an update to this video. Recipients are advised not to infer or assume that any securities, strategies, companies, sectors or markets described will be profitable or that losses will not occur. It should not be assumed that recommendations made herein or in the future will be profitable. The discussion in this podcast includes references to information from third party sources believed to be reliable; however, we make no representation as to its accuracy or completeness. For more information about MayTech you may visit the SEC’s Advisor Information website at https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=887879 Or contact us at info@maytechglobal.com.

EP.02 - Holding Conviction: Long-Term Investing Through Secular Growth

In this second episode of Innovation Conviction, John Gross joins Nels Wangensteen and Ingrid Yin to dissect the principles and practices behind long-term growth investing. The team reflects on cornerstone holdings like Amazon and Nvidia, detailing the research-driven conviction that has kept these positions in the portfolio for over a decade. They explore how the strategy thrives by identifying companies at the forefront of secular trends—from AI and cloud computing to telemedicine and cybersecurity—regardless of market noise or short-term volatility. The discussion also examines the expanding role of GPUs in data centers, China’s shifting economic influence, and why thematic focus and global flexibility are crucial to sustained performance.    _______________________________________________________________ (00:00:52) MayTech's long-term portfolio approach and notable historical holdings (00:01:56) Research process as a filter for volatility versus fundamentals (00:03:07) Characteristics of businesses with high incremental margins and durable growth (00:04:24) Amazon as an example of platform evolution and misunderstood valuation (00:06:06) Strategy performance since 2008 and its differentiated approach to growth investing (00:07:55) Theme-based investing with a concentrated, unconstrained portfolio (00:08:42) Nvidia's evolving demand drivers and transition from gaming to AI infrastructure (00:11:17) Shift to accelerated computing and emergence of large language models (00:13:09) Nvidia's competitive moat, chip complexity, and data center leadership (00:14:34) Emerging investment themes: cybersecurity, India, and genomics (00:15:36) Future potential of telemedicine and chronic disease management (00:15:58) Apple's opportunity through services and device-based AI platforms (00:17:28) Global economic considerations including China's EV export strategy (00:18:57) Secular growth's ability to outperform in economically challenged regions (00:20:03) How Nvidia's growth is supported by rising GPU share in data centers (00:22:00) Nvidia's competitive edge and strong margins through chip scaling Links:  John Gross on LinkedIn: https://www.linkedin.com/in/john-gross-cfa-caia-6b54788 [https://www.linkedin.com/in/john-gross-cfa-caia-6b54788]  Nels Wangensteen on LinkedIn: https://www.linkedin.com/in/nelswangensteen [https://www.linkedin.com/in/nelswangensteen]  MayTech Global Investments: https://www.maytechglobal.com/ [https://www.maytechglobal.com/]  DISCLAIMERS MayTech is a registered investment adviser. Registration of an investment adviser does not imply a certain level of skill or training. The opinions expressed herein represent the views of MayTech’s management (or investment professionals) based on market conditions as of the date of this video and may change at any time without notice. We assume no obligation to provide an update to this video. Recipients are advised not to infer or assume that any securities, strategies, companies, sectors or markets described will be profitable or that losses will not occur. It should not be assumed that recommendations made herein or in the future will be profitable. The discussion in this podcast includes references to information from third party sources believed to be reliable; however, we make no representation as to its accuracy or completeness. For more information about MayTech you may visit the SEC’s Advisor Information website at https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=887879 Or contact us at info@maytechglobal.com.

EP.01 – From AI to Obesity Drugs: Investing in Global Megatrends

In this debut episode of Innovation Conviction, John Gross moderates a conversation with MayTech Global Investments co-founders and portfolio managers Nels Wangensteen and Ingrid Yin. They explore the firm’s investment philosophy, rooted in long-term thematic research and fundamental analysis. Nels and Ingrid discuss their high-conviction views on the transformative potential of artificial intelligence, the rise of next-gen medicine including obesity treatments and robotic surgery, and the evolution of globalization with a pivot away from China. The episode sheds light on how they construct a concentrated global portfolio poised for secular growth.    _______________________________________________________________ (00:00:00) Introduction to MayTech and the Innovation Conviction podcast (00:01:58) Overview of the firm's 16-year track record and investment approach (00:03:36) Nels shares views on macro trends and the current growth investing climate (00:06:30) Ingrid explains how her scientific and cultural background supports global investing (00:08:46) Thematic investing process: identifying secular trends and addressable markets (00:10:21) Ingrid details the firm's bottom-up research approach using S-curves and scalability (00:12:18) Why AI remains the portfolio's largest exposure and what drives its continued potential (00:13:52) Three core pillars of AI investing: algorithms, compute, and data-driven applications (00:16:41) Healthcare sector themes: obesity drugs and robotic surgery as key growth drivers (00:20:15) Historical and current views on investing in China (00:22:51) Globalization 2.0: how supply chain shifts have expanded opportunities in India and Latin America   Links:    John Gross on LinkedIn: https://www.linkedin.com/in/john-gross-cfa-caia-6b54788 [https://www.linkedin.com/in/john-gross-cfa-caia-6b54788]  Nels Wangensteen on LinkedIn: https://www.linkedin.com/in/nelswangensteen [https://www.linkedin.com/in/nelswangensteen]  MayTech Global Investments: https://www.maytechglobal.com/ [https://www.maytechglobal.com/]    DISCLAIMERS MayTech is a registered investment adviser. Registration of an investment adviser does not imply a certain level of skill or training. The opinions expressed herein represent the views of MayTech’s management (or investment professionals) based on market conditions as of the date of this video and may change at any time without notice. We assume no obligation to provide an update to this video. Recipients are advised not to infer or assume that any securities, strategies, companies, sectors or markets described will be profitable or that losses will not occur. It should not be assumed that recommendations made herein or in the future will be profitable. The discussion in this podcast includes references to information from third party sources believed to be reliable; however, we make no representation as to its accuracy or completeness. For more information about MayTech you may visit the SEC’s Advisor Information website at https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=887879 Or contact us at info@maytechglobal.com.

Innovation Conviction by Maytech Global Investments (TRAILER)

Welcome to the MayTech Global Investment podcast — where innovation meets conviction. Join the team at MayTech Global Investments as we explore global trends, disruptive technologies, and growth opportunities shaping the future of investing. From AI and the next generation of healthcare to opportunities resulting from evolving globalization trends, each episode brings our unique perspective, shaped by valuable investment experience to help allocators, investors, and advisors stay ahead of the curve. We invite you to join the conversation, as we share our perspective on some of the most significant growth themes impacting the global economies and hear from our experienced professionals on how they are positioning our client portfolios. https://www.maytechglobal.com/