Exactly one week ago, the world changed — even though many investors didn’t realize it at the time.
On April 2, standing in the White House Rose Garden, President Trump announced what he called “Liberation Day.”
It was a bold move: sweeping tariffs aimed at reshaping global trade and bringing manufacturing back to the U.S.
Source: The White House
President Trump announces “Liberation Day” and new tariffs — April 2, 2025.
The media immediately went into overdrive. Headlines screamed about economic disaster, trade wars and imminent recessions.
Mr. Market — that manic-depressive character who swings wildly between fear and greed — didn’t take it well.
Over the next few days, stocks across nearly every sector got hammered.
It didn’t matter if a company had no exposure to China, didn’t import goods and operated only in the U.S. — if it was publicly traded, chances are it sold off.
And that’s the environment we find ourselves in today: markets filled with uncertainty, investors gripped by fear and headlines doing everything possible to make it worse.
Now, let’s get something straight…
This isn’t the first market sell-off we’ve lived through. And it won’t be the last.
Corrections, pullbacks, downturns — they’re all part of the deal. Volatility isn’t a bug in the system. It’s the price we pay for long-term returns.
If markets only went up, investing would be easy. But real wealth is built by those who can sit calmly while everyone else is panicking.
Tariffs? No Problem for Our Best Businesses
Since I’ve been here, I’ve hammered home one point again and again: You don’t invest based on what you think the market will do tomorrow.
You invest based on the long-term strength of the businesses you own.
And that’s exactly why our approach makes the most sense — especially right now.
We don’t buy hype. We don’t chase fads.
We buy world-class businesses — dominant players in industries with unstoppable trends behind them.
Many of the companies in our portfolio are barely touched by tariffs.
Think about it…
Our health insurers, for example, don’t sell to China. They serve the U.S. market — providing health care coverage to Americans no matter what’s happening overseas.
Yet even they have been caught up in the selling.
Not because their businesses have changed — but because fear took hold of Mr. Market.
The Facts Are Clear: America’s Future Is Bright
That’s where opportunity comes in.
Right now, some of the best companies in the world — companies whose futures are as bright today as they were a month ago — are trading at discounts.
If you have a long-term mindset, these pullbacks aren’t something to fear.
They’re a gift.
It’s in times like these that fortunes are quietly built — by investors who stay patient, stay disciplined and focus on the facts.
And the facts are clear:
- America is still the strongest economy in the world.
- Innovation isn’t slowing down — it’s speeding up.
- Great businesses, led by outstanding CEOs, will keep growing and thriving — tariffs or no tariffs.
Let’s be honest — no one likes seeing their account balance drop on their brokerage statement. I get it.
But reacting emotionally to short-term noise is the surest way to destroy wealth.
The best way to succeed — and it’s the way we’re going to stay true to — is simple: Own great businesses. Hold them through the storms. Let time and compounding do the heavy lifting.
Stay strong. Stay focused.
Better days are ahead — and we’ll be ready.
Best of all, we’re already owning the companies that will come out of this even stronger.
Keep your eyes on the horizon.
Regards,
Charles Mizrahi
Founder, Alpha Investor
