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I also want to say a thank you to the people at Grace Dental. That's Grace Dental in Palo Alto, California. They glued my tooth was broken and they glued it back together before the interview today. So I'm thankful that they helped and I'm grateful that I got to meet them. Thanks.
I also want to say a thank you to the people at Grace Dental. That's Grace Dental in Palo Alto, California. They glued my tooth was broken and they glued it back together before the interview today. So I'm thankful that they helped and I'm grateful that I got to meet them. Thanks.
If this were Nancy Pelosi, people would be saying master tactician, incredible achievement, president's agenda is being carried forward. You may not agree with the Republican Party, but you have to say what he's done is pretty incredible.
If this were Nancy Pelosi, people would be saying master tactician, incredible achievement, president's agenda is being carried forward. You may not agree with the Republican Party, but you have to say what he's done is pretty incredible.
Answer the question on Australia. We have a trade surplus with Australia. We have a free trade agreement. Why? They are an incredibly important national security partner. Why were they whacked with a tariff?
Answer the question on Australia. We have a trade surplus with Australia. We have a free trade agreement. Why? They are an incredibly important national security partner. Why were they whacked with a tariff?
If this was the case of a military officer or an intelligence officer and they had this kind of behavior, they would be fired.
If this was the case of a military officer or an intelligence officer and they had this kind of behavior, they would be fired.
I'm asking for a strong, positive mandate from my fellow Canadians. I've just requested that the Governor General dissolve Parliament and call an election for April 28th. And she has agreed. We are facing the most significant crisis of our lifetimes.
I'm asking for a strong, positive mandate from my fellow Canadians. I've just requested that the Governor General dissolve Parliament and call an election for April 28th. And she has agreed. We are facing the most significant crisis of our lifetimes.
Thank you, Georgia. I appreciate it. Looking forward to this.
Thank you, Georgia. I appreciate it. Looking forward to this.
Well, look, I think if you rewind back to Trump tariffs 1.0, fourth quarter of 2018, top to bottom, the stocks fell about 19.9%. And right before they hit 20%, they started to reverse course. And then you fast forward to 2019, the S&P was up around 30%. So what I would say is that when you look at what's going on with tariffs,
Well, look, I think if you rewind back to Trump tariffs 1.0, fourth quarter of 2018, top to bottom, the stocks fell about 19.9%. And right before they hit 20%, they started to reverse course. And then you fast forward to 2019, the S&P was up around 30%. So what I would say is that when you look at what's going on with tariffs,
Obviously, it's creating a lot of uncertainty, which is causing a lot of fantastic stocks to pull back or sell off. That's presenting good buying opportunities because when you look at policy uncertainty, which is at its second highest level on record, second to only the lockdowns of 2020.
Obviously, it's creating a lot of uncertainty, which is causing a lot of fantastic stocks to pull back or sell off. That's presenting good buying opportunities because when you look at policy uncertainty, which is at its second highest level on record, second to only the lockdowns of 2020.
Whenever you have a policy uncertainty this high, forward-looking returns in the stock market over the next three, six, and 12 months are substantially above average. So look, I'm viewing this as a buying opportunity. I'm trying to pick off my favorite high-conviction names and add to them where appropriate.
Whenever you have a policy uncertainty this high, forward-looking returns in the stock market over the next three, six, and 12 months are substantially above average. So look, I'm viewing this as a buying opportunity. I'm trying to pick off my favorite high-conviction names and add to them where appropriate.
So if we look at kind of worst case scenario for tariffs, as a country, we have about $25 trillion of total personal income annually. We import about $3.3 trillion of goods. If there was a universal 25% tariff on every single good we import, that would equate to roughly a 3% income tax on the American taxpayer. Not fun, not great, but not the end of the world.
So if we look at kind of worst case scenario for tariffs, as a country, we have about $25 trillion of total personal income annually. We import about $3.3 trillion of goods. If there was a universal 25% tariff on every single good we import, that would equate to roughly a 3% income tax on the American taxpayer. Not fun, not great, but not the end of the world.