讀後心得

U.S. President Trump recently announced reciprocal tariffs on multiple countries, with Taiwan's tariffs rising by 32%. This has triggered market panic, and China immediately imposed retaliatory tariffs on American goods. Experts predict that the stock market will suffer a severe blow on Monday and that more bad news may emerge within the next month. However, private equity operator "股人阿勳" suggests that investors should seize the opportunity to increase their stakes rather than hastily retreat. He emphasized that in the long term, the value of quality companies will not disappear due to short-term panic, and the market will not wait for investors to find the lowest point. He also provided four pieces of advice, including entering the market in phases when prices are low and asset restructuring, reminding investors to remain patient and avoid emotional decision-making.

The President of the United States has announced that it will impose reciprocal tariffs on various countries. On the 2nd, the President signed an executive order imposing "reciprocal tariffs" on multiple countries, with the tariff increase for Taiwan reaching 32%. Subsequently, China also implemented "retaliatory tariffs" on U.S. goods, escalating the global tariff war, increasing market panic, and many are concerned that Taiwan's stock market may experience a significant drop on Monday. A former private equity manager candidly stated that a sharp decline in the stock market is inevitable and predicts that there may be more negative news in a month. However, he also offered four suggestions regarding stock market investment.

The manager believes that Trump's tariff war has caused widespread panic in the market, predicting a sharp drop when the stock market opens on Monday, and the decline may extend beyond that. He emphasized that for value investors, such a drop should be seen as "an opportunity to add positions," rather than "a reason to run away." He mentioned that once Trump's tariff policy was introduced, the market experienced violent fluctuations, and many began to doubt whether industries like semiconductors and pharmaceuticals would suffer severe blows, as well as worry about whether foreign capital would withdraw from high-quality companies like TSMC, which could further drag down the overall index.

He offered three reminders:

• The market will never wait for you to pick up bargains; when you choose to sell, the market may rebound later, and you may hesitate to reenter due to fear.
• The long-term value of quality companies will not disappear due to a single policy change; even if prices drop, the company's fundamentals remain intact.
• You can never be sure of the lowest point; do not blindly pursue low prices, but operate based on approaching value points.

For investors who are already trapped or have insufficient cash flow, he suggests not to rush into self-blame and to view this as an opportunity to rethink asset allocation. First, find the least promising stocks in your portfolio and gradually phase them out; next, redirect cash flow towards higher-quality assets or U.S. Treasury bonds to stabilize the bottom; finally, establish a strategy and discipline for the next time cash is available.

Lastly, he provides the following four suggestions for investors:

• If you have cash, enter the market in batches when prices are low.
• If you have no cash, remain calm and focus on asset reorganization.
• Avoid leverage; do not invest all your funds at once and leave some breathing room.
• Extend your investment timeframe; in six months, you will find that the current panic has long been replaced by other news.

Investing should be based on value rather than emotion. Although Trump’s term may only last four years, Taiwan's quality companies will continue to create value. If you are so anxious that you cannot sleep, it might be wise to consider withdrawing all your capital from the market.