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Haymaker Daily

On speculation and a recurring mania

Jul 21, 2025
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Good morning, Subscribers!

One of Warren Buffett's most central investment principles is to be fearful when others are greedy and greedy when others are fearful.

This spring was a classic example of the latter when investors were in full panic mode in the wake of Donald Trump's tariff-themed "Liberation Day".

Now, though, we're looking at the complete inverse of that situation.

Hartnett, BofA

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