⁠The Kobeissi Letter
We are currently witnessing one of the craziest days in stock market history.

April 7th, 2025 will be a date referenced for years to come.
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⁠Investing visuals
TRUMP:

“We will increase our tariffs on China to 50% on April 9th if China does not withdraw its 34% retaliatory tariffs.”

Markets down 🔻-2% again. https://t.co/0YXgVDW6Ol
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⁠Finding Compounders
Chuck Akre delivers some great investing advice in his 1998 shareholder letter https://t.co/sKCjuqmLVf
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⁠The Kobeissi Letter
Something doesn't add up here.

Over the last 2 hours we have now had:

1. The White House call tariff delay headlines "fake news"

2. President Trump threaten another 50% tariff hike on China

At the surface, the trade war situation just got materially WORSE.

Meanwhile, the S&P 500 is trading +200 points above its low seen before point #1.

Is something happening behind the scenes?
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⁠Hidden Value Gems
RT @HiddenValueGems: Wondering if Buffett will be able to deploy BRK’s cash for a significant acquisition this time?

He may be concerned by the profitability and possible capital requirements of the businesses he already owns…

#WarrenBuffett #BRK
- He will buy smth big
- He will miss like in 2020
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⁠The Kobeissi Letter
BREAKING: Blackrock CEO says he will not rule out "another 20% stock market decline." https://t.co/cVAh3aDbl1
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⁠Finding Compounders
Li Lu on Moats https://t.co/6EiuUDbTcI
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⁠Finding Compounders
Negotiating with Warren Buffett seems to be pretty tuff .

This is when he was negotiating to buy Clayton Homes https://t.co/DZ8D05gLDa
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⁠Quiver Quantitative
Elon Musk's brother, Kimbal Musk, just said:

"Through his tariff strategy, Trump has implemented a structural, permanent tax on the American consumer.

Even if he is successful in bringing jobs on shore through the tariff tax, prices will remain high"
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⁠The Kobeissi Letter
WHERE THE "90-DAY TARIFF" RUMOR ORIGINATED:

This morning, White House Economic Advisor Hassett joined Fox News.

He was asked, "Will you do a 90 day pause, or would you consider that?"

His response, "Yeah... you know I think that the President is going to decide what the President is going to decide."

The "fake" headlines quickly spread from there.

What just happened?

At 10:10 AM ET, rumors emerged that the White House was considering a "90-day tariff pause."

At 10:15 AM ET, CNBC reported that Trump is considering a 90-day pause on tariffs for ALL countries except for China.

By 10:18 AM ET, the S&P 500 had added over +$3 TRILLION in market cap from its low.

At 10:25 AM ET, reports emerged that the White House was "unaware" of Trump considering a 90-day pause.

At 10:26 AM ET, CNBC reports that the 90-day tariff pause headlines were incorrect.

At 10:34 AM ET, the White House officially called the tariff pause headlines "fake news."

By 10:40 AM ET, the S&P 500 erased -$2.5 TRILLION of market cap from its high, 22 minutes prior.

Never in history have we seen something like this. - The Kobeissi Letter
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⁠The Kobeissi Letter
RT @TKL_Adam: What we're watching:

Amid all the chaos, the 10-year note yield has moved in a straight line higher, now up +30 bps from its low of the day.

Bond markets are telling us something. https://t.co/sk0jgXx7uE
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