Charlie Munger Once Said, 'The Market Won't Do Exactly What You Want, When You Want' — As Tariff Jitters And Wild Swings Remind Investors Why Long-Term Thinking Matters

As global markets continue to swing wildly in the aftermath of Trump's tariffs coming into play, an old observation from Berkshire Hathaway’s former vice-chair, Charlie Munger, sounds more relevant than ever.

What Happened: During volatility, Munger once told shareholders: "The market is not going to do exactly what you want when you want it…”

“I wouldn’t worry too much about what happens over six months or twelve months. I don’t think you’re really all that welcome in this room if the short-term orientation is what turns you on."

See Also: Dave Ramsey Caller Asks If They Should Stop Contributing During Market Collapse — ‘Ten Years From Now You Won’t Even Remember This Crap’

Why It Matters: Trump's sweeping tariffs have triggered a market meltdown, wiping out $9 trillion in just six weeks—an impact rivaling the losses seen during the peak of the COVID-19 crash and surpassing the year-long decline following the 2008 Lehman Brothers collapse, according to Bear Traps Report founder Lawrence McDonald.

On Monday, stocks swung as investors responded to contradictory signals. Hopes that tariffs might be halted for a bit pushed the S&P 500 almost 7% from its recent low, only for the market to change course when the Trump administration confirmed the 25% hike on Chinese goods would go ahead. China threatened retaliation, leading to a fresh wave of uncertainty. By evening, futures for the Dow, S&P 500, and Nasdaq-100 had each climbed by more than 1%.

The recent episode underscores just how reactive markets have become—bouncing on speculation, then falling on confirmation. Munger's lesson highlights the danger of chasing headlines and banking on instant gratification from markets that are, by nature, unpredictable.

At a time when even experienced investors are tempted to time the chaos, Munger's reminder stands steady: patience beats panic, particularly when the noise is loudest.

Image via Shutterstock

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