Tariff tantrums! What if this time is different?

We are human—emotional, instinctive, and often unsettled by the unknown. We can’t always suppress our reactions when markets fluctuate. It’s natural to feel anxious during periods of financial turbulence. In fact, it’s expected.

The instinct to flee when markets fall is deeply human. But it’s what you do during these volatile times that ultimately determines your long-term success—or shortfall—as an investor.

Embracing Uncertainty

Uncertainty is not a bug in the system; it is the system. Markets, by their very nature, are unpredictable and interconnected. Every signal we receive seems to contradict the last. The absence of a clear answer often feels threatening, triggering a shift from rational thought to reactive behaviour.

So, what should you do when everything feels unclear?

Perhaps the better question is: What should you not do?

Don’t panic.

You’ve already done the hard work. You’ve clarified your long-term goals and translated them into an investment strategy grounded in diversification and humility. Your plan accounts for uncertainty—built with the full understanding that no one, not even experts or politicians, can reliably predict the market.

Market declines are not deviations from the norm—they are the norm. History shows that, over time, markets have a consistent upward bias. The key is staying invested and trusting the process.

Patience Over Panic

When the world feels chaotic, revisit your original plan—the one you designed in calmer times. Let it anchor you. Emotional discipline is hard, but necessary.

As Rick Rubin once said: “When you zoom in, you obsess. When you zoom out, you observe.”

Context is everything. Long-term investing requires the ability to step back and see the bigger picture. Investors who succeed are those who stay disciplined, trust their process, and resist the temptation to react impulsively.

Charlie Munger put it best: “You don’t make money buying or selling stocks. You make money waiting.”

Control What You Can

Market fluctuations are beyond your control, but your actions are not. Focus your energy on what’s within your reach:

• Maintain a diversified portfolio.
• Stick to your financial plan.
• Make decisions based on thoughtful analysis, not noise.

As Carl Richards reminds us: “Instead of playing the prediction game, play the resilience game. Turn down the noise. Turn up the clarity. And remember: This too shall pass.”

Values as Your Compass

Uncertainty often lives in the space between the question and the answer. It feels uncomfortable because we crave certainty—even when it’s unattainable.

Move from confusion to clarity by returning to your core values. They are your most reliable compass when the path ahead feels fuzzy and unclear.

But clarity doesn’t come from control. It comes from connection—to your values, your purpose, and your plan. Your values are your most reliable compass in uncertain times.

You always have agency. You can choose to respond intentionally rather than react impulsively. Preparing for the future means cultivating mindfulness and resilience, not trying to predict what’s next. Shift from being a passive consumer of your environment to an active creator of your outcomes. By becoming aware of your thoughts and emotional triggers, you can choose whether those thoughts serve your goals—or steer you off course.

Process Over Prediction

Being disciplined is not glamorous. Focusing on your process may feel monotonous or slow, but it’s precisely this consistency that builds long-term success. Your process keeps you focused on what matters and what’s within your control.

Now is the time to reflect: What behaviours did you commit to when you created your investment plan? What actions best serve your goals in today’s climate?

Investing isn’t always comfortable. It’s often a test of emotional endurance.

But one truth articulated by Sam Ro remains – The long game is still undefeated.

 

 

The above article was written and adapted by Marius Kilian.