In our last website article published on April 10, we reminded our investors to stay calm amid volatility and chaos. At that time, anxiety was high, headlines were gloomy, and markets looked unstable. Many doubted our conviction to stay the course. Yet, as history has often proven, discipline in the face of fear is the cornerstone of long-term investing.
Just a few trading sessions later, the markets came roaring back—an emphatic validation of the principles we hold dear. This episode brought to mind the wisdom of Peter Lynch, who once said that “Far more money has been lost by investors trying to anticipate corrections, than has been lost in the corrections themselves.” Indeed, Mr. Market, as Benjamin Graham metaphorically coined, can be emotional, irrational, and at times deeply pessimistic. But just because Mr. Market chooses to price our portfolio every minute doesn’t mean we need to act on it—especially not when the prices are low and senseless.
Over the past month, countless media outlets, major financial institutions, and self-styled market gurus advised the public to “cut risk,” “sit in cash,” or “wait for clarity.” These calls have frightened many into selling at depressed prices—effectively transferring their wealth to the brave and disciplined who chose to buy when others were fearful. It echoes Warren Buffett’s enduring truth: “Wealth is made when markets are bad and lost when markets are good.”
The temptation to time the market is a deeply human flaw—one that has persisted throughout history. Even though the evidence is clear, many still prefer to gamble than to invest with discipline.
This is precisely why we believe investing is a professional skill, and there is real merit in leaving that responsibility to professionals. Not all who claim to be professionals act in your best interest—but we do. At Eu Capital, our distinction is not just in performance, but in integrity and alignment. We have no need to make a fee at your expense—because we don’t need to. We’re here to serve those who resonate with our values and principles, not to exploit volatility for short-term gain.
We thank our investors who stood firm with us. In times like these, it is the quality of decision-making—not the noise—that determines long-term wealth.
Let us close with a passage from the ancient Chinese philosopher Zhuangzi:
举世誉之而不加劝，举世非之而不加沮，定乎内外之分，辩乎荣辱之境，斯已矣。
“When the whole world praises you, you are not encouraged; when the whole world condemns you, you are not disheartened. You are anchored in the distinction between internal and external, and clear on the boundaries of honor and disgrace—that is all.”
This timeless wisdom reminds us that true confidence comes not from market validation, but from a clear compass, quiet strength, and unwavering values.