Given the little market “wobble” we saw on Friday—which may or may not spiral into another full-blown shitstorm—I wanted to resurface one of my favorite tweet threads from April’s Tariff Tantrum that you might’ve missed. It’s a collection of simple lessons from past panics—what happens when fear takes over, liquidity vanishes, and emotion replaces process.
The kind of perspective you only earn by getting punched in the face a few times—which, for me, was especially painful when the stakes were measured in billions of client capital.
Whether you’re just starting out or you’ve been around long enough to have the scars to prove it, the lessons that come from pain tend to stick. They’re timeless—always there when you need them most.
Unlike last April when I wrote this in the middle of a storm, I wanted to get it in front of you before the next one—so you’re ready when it hits. And they always come, often when you least expect them.
For my Substack readers, this one’s worth a deeper look. I sprinkled in a few more details where warranted (see #2 on meditation). Once again, my goal here is to pay it forward—to share the lessons that matter most when uncertainty returns and doubt escalates.
So with that, roll up a fat J and let’s revisit some enduring wisdom the market never forgets to teach.
1/WAKE THE FUCK UP
When the market speaks, make sure you listen.
The market tells you where it fears some companies may end up.
You don’t have to agree, but you damn well better understand what it saw.
It’s time to lock in.