Special Market Dispatch, Tuesday, March 4, 2025
Our chaotic trade policy continues. As I write this note, taking an evening from my vacation, on Tuesday, March 4, 2025, like you, I wonder what is next. President Trump‘s trade representative, Howard Lutnick, is out this evening saying that there may be a meeting somewhere in the middle as early as tomorrow, which only begs the question, does anybody know what that means?
Here’s what I do know. The CNN Fear Greed Index hit a low of 15, Extreme Fear, by the close of business today, Tuesday, March 4, 2025. Furthermore, that is a U.S. measuring stick. It has little to do with how worried Canadians are, and given what’s on the table, my bet is Canadians are far more worried.
The interesting thing about such extreme levels of worry is that it normally signifies a near term exhausted seller mode. Yes, I get that these are not normal times, but neither was Covid, the financial crisis of 2008, or the dot.com era. My observation over the decades of being in this business is that the circumstances change but the way humans behave, en masse, never does. We tend to sell far too cheap when we are worried, and we tend to pay far too much when we are optimistic. Our job is to help people counter that kind of behaviour, so feel free to pass this along as you see fit.
While this dispatch is more about our investment behaviour than the politics, I feel I must share that I do not believe we will serve our country well by booing our American friends national anthem, nor do I believe we will serve ourselves well by being disrespectful to the President of United States, a president that the majority of Americans voted for. Notwithstanding the behaviour that emanates from some parts south of the border, I believe our politicians and all Canadians should hold themselves to a higher standard.
In closing, please know that the Aspira team is here to support you, so please do reach out if you would like to speak with one of our advisors. As an FYI, I will be back in the office on Monday, March 10, 2025.
- Chris Raper CFP®, CIM®
Co-Founder, Wealth Advisor, and Cross Border Specialist
Aspira Wealth
