A Tesla investor and fund manager explains why the volatility from Trump's tariffs hasn't changed his stock picks

Market Volatility and Tariffs - President Trump's tariff announcements have caused significant market volatility, but some investors see this as an opportunity rather than a deterrent to long-term investment strategies [1][2] - The tariffs, particularly those imposed on China, have raised concerns about potential recession, depending on their duration and impact [2][3] Impact on Businesses - The 90-day pause on tariffs may not provide sufficient time for businesses to adjust to new cost structures, leading to potential challenges for small and medium-sized enterprises [7][8] - Small and medium-sized businesses contribute approximately 44% to America's GDP, and their struggles could significantly impact the overall economy [9][10] Tesla's Position - Tesla is viewed as being in a favorable position due to its 100% US production footprint, making its vehicles relatively cheaper compared to competitors amid tariff changes [11][12] - Despite a nearly 50% drop in Tesla's share price from record highs, the company is expected to benefit in the long term as the market for electric vehicles grows [13][14] - Investor sentiment around Tesla remains optimistic, with expectations that negative market perceptions will eventually dissipate [14][15]