If tomorrow is “Liberation Day”, today is “Rational Day”
If tomorrow is “Liberation Day”, today is “Rational Day” [Podcast]
Notes From the Field By James Hickman (Simon Black) April 1, 2025
Tomorrow is being billed as Liberation Day— where tariffs will supposedly free America from those pesky, parasitic foreign markets.
But what’s actually going to happen?
This is the subject of today’s podcast.
We discuss:
How odd it is that no Liberation Day details have leaked... which makes us wonder if there actually are any plans or details to leak.
If this administration truly believes tariffs are so obviously great for the economy, why would they wait until now instead of doing it day one, as they did with so many other executive actions?
What might actually unfold, and what it means for markets that are already jittery.
Questions any rational investor should ask themselves about their goals— for example, are you speculating on share price, or investing in a company’s long term prospects?
Will tariffs make successful companies immediately and permanently less valuable?
To answer these questions, we bring up examples of well managed, value companies we present to our investment research subscribers, particularly undervalued real asset businesses.
One example’s entire market valuation is less than the cash it has in the bank. Plus it’s profitable and pays a dividend.
Finally, we discuss:
The long shot scenario of what would need to occur for tariffs to actually work as intended.
The very plausible scenario that America could become a manufacturing powerhouse again—not thanks to tariffs, but technology.
The surprising company we identify which likely stands to gain the most from this AI/ automation/ robotics boom.
If tomorrow is “Liberation Day,” then today is the day to be rational.
I encourage you to give it a listen. You can listen in here.
(For the audio-only version, check out our online post here.)
To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC
