Two weeks have passed since President Trump's announcement of reciprocal tariff on 3 Apr. And many things have changed since 3 Apr, due to Trump's subsequent announcements.
Currently, electronics goods, pc and smartphones are exempted from the reciprocal tariffs (a change from previous stance). The market may rally on this news on Monday.
Trump's tariffs are like cha-cha dance; two steps forward, one step back; two steps forward, one step back.
It's been very tiring to keep up with the tariffs news and its impact on my stock and non-stock holdings. Given the great uncertainty in US tariffs, I decide to focus less on the tariff news and just wait for things to settle.
The markets may bounce up and down. It may recover from there or fall further. It does not matter.
I may miss out buying quality stocks at good prices. I may buy quality stocks when their prices fall to my buy point. It does not matter.
I just stick to my buy plan; does not matter if my warchest is not deployed. At this moment, 50% of my assets are in equities. So I still benefit, if the market recovers.
Besides buying quality stocks at good prices, I will change my focus to buying non-US stocks on business that focus on domestic demand. Such business will not be directly affected by the uncertainty of tariffs.
Seperately, it seems that US treasuries and USD are no longer the 'safest' assets during market crisis, given its drop during Thursday and Friday. I will hold my spare cash in SGD (and not USD) in future, even though the interest rate for SGD is lower.
Lastly, S&P PE is around 19x NTM PE currently. This is not cheap, relative to its 20-year history (see https://x.com/MikeZaccardi/status/1910819472291639692)
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