Investing can feel a lot like stepping onto the pitcher’s mound with the game on the line. The pressure is immense, the noise is deafening, and your success depends on staying calm and trusting your preparation. One bad pitch can change everything—but great pitchers don’t panic. They stick to their game plan, control what they can, and execute under pressure. The same applies to investing: you can’t control market swings, interest rates, or headlines, but you can control your mindset, discipline, and long-term strategy.
A ‘90s Kid’s Goldmine—Or Not
The other day, I was digging through some of my old childhood collections—Beanie Babies and baseball cards, the “goldmines” of the time. Like many kids, I once believed these collectibles would be worth a fortune someday. Turns out, not so much. When everyone is collecting the same thing, scarcity—one of the biggest drivers of value—goes out the window.
But going through all those baseball cards reminded me why I fell in love with the game in the first place. Growing up in the 90s, I spent countless summer nights at Tiger Stadium with my dad and brother, watching players like Kirk Gibson, Alan Trammell, Bobby Higginson, and more. But by the time I was old enough to truly appreciate the game, the Tigers were struggling, so I found myself drawn to another team—the Atlanta Braves.
The late ‘90s Braves were stacked with hall of famers—Chipper Jones, John Smoltz, Tom Glavine, and of course, Greg Maddux. I had posters of both Maddux and Jones on my bedroom wall, and thanks to TBS, I was able to watch them dominate on a regular basis as their games were broadcast over basic cable.
Maddux, in particular, fascinated me. Like me, he didn’t have a blazing fastball, but what he did have was poise. He had complete command of the strike zone, and more importantly, he had complete command of himself. That was his superpower—staying calm under pressure, executing his game plan, and never letting the moment get too big.
One of my favorite Maddux quotes stuck with me as I trained to be a pitcher myself:
“The only thing you control is yourself. Be prepared, trust your stuff, and compete.”
And while my own pitching career didn’t take me to the big leagues, that lesson—controlling what you can control—has stuck with me ever since.
The #1 Killer of Investment Success: Panic
Maddux’s poise on the mound is the same quality that separates successful investors from those who sabotage their own financial plans. The number one destroyer of investment success isn’t bad stock picks or economic downturns—it’s letting the emotions get the best of you.
Right now, investor sentiment is deep in “extreme fear” territory. The latest concern? Tariffs. Trump’s proposed tariffs have people worried about market ramifications, and the media isn’t helping.
Every time volatility spikes, we see it—the calls, the emails, the anxiety. Investors are afraid. And when emotions run high, that’s when people make the biggest mistakes—pulling out of the market, selling at the wrong time, abandoning a sound financial plan because of short-term fear.
And nothing stokes fear more than headlines.
Every time CNBC airs a Markets in Turmoil special, it’s a reliable signal that panic has taken hold. These shows are designed to grab attention, not provide sound financial advice. They lead with dramatic language—“crash,” “meltdown,” “economic disaster.” Why? Because fear sells.
What doesn’t sell? Level-headed investing. Nobody is tuning in for a segment that says, “Stay the course, don’t panic, and trust your long-term plan.” I know sometimes we may sound like a broken record in saying this, but mastering this one basic rule in investing is 99% of what you need to know to be successful as an investor.
And here’s the kicker—if you had invested every time a Markets in Turmoil special aired, you would have been positive one year later. It’s the only perfect indicator in all of finance. During this correction we have not seen the airing of Markets in Turmoil, but if we see it, you better know we’ll be buying.
Tariffs: History Repeats Itself
I understand why this latest round of proposed tariffs feels different. The numbers are big—some headlines are shouting 200% tariffs!—but they lack context.
Let’s break it down.
First, a 200% tariff doesn’t mean the price of goods automatically triples. Many products have existing supply chains that will shift, and companies adapt. Additionally, tariffs often come with quotas—meaning only imports above a certain threshold are hit with the highest rates.
Second, we’ve been here before.
• In 2002, steel tariffs were implemented. The market wobbled, but it recovered.
• In 2018, Trump’s tariffs on China sparked fears of an economic slowdown. Again, the market recovered.
If tariffs alone were a major driver of inflation, we would have seen it from 2016-2020. But we didn’t. Inflation surged in 2021-2022 for entirely different reasons—supply chain disruptions, stimulus-fueled money supply increases, and labor shortages.
The key takeaway? Headlines overhype, and markets adapt.
What Bally Sports Teaches Us About Tariffs and Adaptation
If you’re a Detroit Sports fan and YouTube TV user, you’ve probably been frustrated trying to watch them over the past few years. What used to be included was taken away by Bally Sports, now cost extra for access. In a way, that’s a tariff—it’s an added cost imposed by a company that felt it wasn’t being paid fairly in the old system. When I first learned YouTube TV wasn’t going to carry Bally Sports, I assumed it was just a negotiation tactic, and it would all be sorted out within a week or two. Turns out, it wasn’t. The same can be said for the tariffs, maybe they go into effect on April 2, or perhaps they are a negotiation tactic to secure better deals for the US, only time will tell.
But at the end of the day, markets always adapt— some people, like me, just pay the price to watch our team. Others find workarounds, whether it’s streaming alternatives or different ways to access games.
Businesses faced with tariffs do the same thing: they shift supply chains, find new suppliers, or adjust pricing strategies. It will be painful at first, but markets are dynamic. They adjust, just like we do.
At the end of the day, some companies won’t survive the impact of tariffs—just like Bally Sports didn’t survive its own strategy. Eventually, they went bankrupt and were acquired by FanDuel, which stepped in to offer better products and services. The same thing happens in markets. The smallest companies are the most vulnerable to tariffs, just as smaller businesses are more exposed to economic pressures. That’s exactly why small-cap stocks have taken the biggest hit year to date.
But that doesn’t mean we should abandon them. Instead, we continue to dollar-cost average into the dips, taking advantage of long-term opportunities. At the same time, we’re seeing the power of diversification pay off, with emerging markets and international stocks finally leading the way.
Right now, emotions are running higher than ever. Trump is a polarizing figure, and anything tied to his policies—tariffs included—amplifies investor anxiety. But history tells us that short-term panic rarely pays off.
Greg Maddux never let a full count in the bottom of the ninth shake him. He controlled what he could—his preparation, his execution, his mindset. Investors should do the same. Stay the course, trust your long-term plan, and don’t let today’s noise dictate your financial future. The only thing you control is yourself—so control it well and trust your stuff.
Disclosures
This material has been prepared for informational purposes only and should not be construed as a solicitation to effect, or attempt to effect, either transactions in securities or the rendering of personalized investment advice. This material is not intended to provide, and should not be relied on for tax, legal, investment, accounting, or other financial advice. You should consult your own tax, legal, financial, and accounting advisors before engaging in any transaction. Asset allocation and diversification do not guarantee a profit or protect against a loss. All references to potential future developments or outcomes are strictly the views and opinions of Richard W. Paul & Associates and in no way promise, guarantee, or seek to predict with any certainty what may or may not occur in various economies and investment markets. Past performance is not necessarily indicative of future performance.