Kevin O'Leary Says 'Nobody Likes Volatility'—But Investors Must 'Hold Their Nose' And Buy 'When There's Blood In The Streets'

Stock market turbulence has rattled investors recently, but Kevin O'Leary, also known as “Mr. Wonderful,” sees opportunity in the downturn. Despite widespread losses, O'Leary believes now is the time to buy—just don't expect to catch the bottom.

Buying During Market Declines

“Nobody likes volatility,” O'Leary acknowledged in a recent interview with Yahoo Finance. “But as an investor, you learn that you have to hold your nose. And when there's blood in the streets, you have to be buying.”

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O'Leary pointed out that the average company on the Nasdaq has dropped 30% to 40%, while the Russell 2000 index is filled with undervalued stocks. Rather than trying to time the market, he has been buying indices that follow specific rules, including ALPS O’Shares US Quality Dividend ETF fund OUSA for the S&P 500 and ALPS O’Shares US Small-Cap Quality Dividend ETF OUSM for the Russell 2000.

“I bought more because it’s on sale,” he explained. “This always happens. Everybody feels, ‘Oh my goodness, it's the end of the free world as we know it.'”

O'Leary also noted that investors should not expect to perfectly time the bottom. “Never think you’re going to catch the bottom. I don't even guess to do that. I don't try and time the market.”

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Stock Market Woes and Political Turmoil

O'Leary's comments come as markets struggle with fresh uncertainty, as the S&P 500, the Dow Jones and the Nasdaq marked their lowest levels since September.

Market volatility has been fueled by President Donald Trump's latest tariff threats, which initially targeted Canadian metals and auto imports. While Trump later softened his stance on metal tariffs after Ontario Premier Doug Ford agreed to suspend an energy tax, uncertainty remains.

Trump has been clear about his strategy, according to O'Leary. “He wants to reset all the Tariff schedules from as far back as the Second World War and just have reciprocal tariffs,” he explained. “The thing about tariffs—you have to think of them as negotiating tools of economic warfare.”

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O'Leary cited examples such as dairy tariffs between the U.S. and Canada, where both sides have imposed steep duties. “After a while, both sides look at each other and say, ‘Well, we're both tariffing each other at 243%. There’s really no economic gain—this is kind of stupid.'”

O'Leary weighed in on the political situation in Canada as well, saying, “Unfortunately for Carney, he’s not going to be the one to negotiate. Unlikely he'll probably lose in the general election in the next 90 days to a man named Pierre Poilievre who's leading in the polls.”

Looking Ahead

O'Leary remains focused on long-term investing, urging others not to panic. “Yes, there's volatility, nobody likes it, but the market was extremely expensive,” he said. “I have to admit, I did some buying lately. I'm seeing great companies that still have great growth prospects selling down.”

While some fear a recession, O'Leary does not see one in the immediate future. “I get the tear sheets for my own 54 private companies in all 11 sectors every Tuesday. I don't see [a recession] yet. Consumer’s still strong.”

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