To the Editor: As your April 4 cover package "Investing After the Tariff Shock" demonstrates, the investment arena is currently embattled with tariff turmoil. As such, I can't help but contemplate a favorite adage: "Buy on the sound of cannons; sell on the sound of trumpets" (attributed to 19th century financier Nathan Rothschild). Good advice at this point? Consider this: Back on March 13, 2020, President Donald Trump declared Covid-19 to be a national emergency. Buying the S&P 500 index on that day would have generated a substantial gain by the end of the following year. Is tariff turmoil any more of a "national emergency" than Covid-19 was back in 2020? Only time will tell.

Rob Suthe Bethesda, Md.

To the Editor: Warren Buffett has been proved once again to be prescient. He liquidated massively in an overpriced stock market, accumulated a huge mountain of "dry powder," and offers a diversified portfolio of value-oriented, well-managed, well-capitalized stocks with zero management fees. I'm adding to my existing substantial position in Berkshire Hathaway.

Tom Bassett Arvada, Colo.

To the Editor: If George Orwell were alive today and published Nineteen Eighty-Four as Twenty Thirty-Four, the Ministry of Truth leader would surely declare, "When the financial markets decline, investor wealth increases."

Mark Sullivan Grosse Pointe Shores, Mich.

Congress Must Step Up

To the Editor: The problem with the tariffs is that their impacts go even further than Ben Levisohn mentions ( "Trump Is Fighting a Trade War He Can't Win. The Stock Market Is the Loser," Up & Down Wall Street, April 4). Why has the U.S. dollar been falling since the first of the year and fell further during tariff week? It's because tariffs and the uncertainty they have created will slow the economy and retard tax revenue even further, leading to even larger fiscal deficits. The U.S. Congress must unite and step up to interdict the tariffs, stabilize the dollar, and restore our country's economic equilibrium.

Mike Meehan Bradenton, Fla.

Save Our Sciences

To the Editor: There's a canyon between basic research and delivering a drug to the market. And yes, most research related to drug discovery doesn't get past published scientific papers ( "NIH Funding Is Drying Up. Drug Discovery Could Go With It," April 4). But that doesn't mean we should cancel the money invested in our STEM fields. You can't get a Ph.D. in the sciences without working in a university lab, and the National Institutes of Health supports those labs with grants. If Trump really believes that NIH is wasting money with those grants, he is mistaken.

Thomas Falk On Barrons.com

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April 11, 2025 21:30 ET (01:30 GMT)

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