President Donald Trump’s on-again, off-again tariff plans have sent Wall Street on a wild ride of extreme highs and lows in 2025, though the stock market has largely gone sideways for the year. One person who’s not worried about the markets (or the Trump tariffs) is author and investor Grant Cardone.
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Read on for more details about why Cardone isn’t worried about the stock market amid the volatility.
During a recent appearance on Fox News’ “The Ingraham Angle,” Cardone blasted investors who have criticized Trump’s tariff policies.
“Let’s keep this real,” Cardone told host Laura Ingraham. “Donald Trump has Plan A, one plan: Make America great again. There is no other plan and the short-term traders or the pundits on TV that are watching Wall Street, look guys, this is beyond your pay plan.”
Cardone went on to call Trump a “master in negotiating,” along with being “transparent” and “authentic.”
“[Trump] knows what he’s doing, and he will make America great again,” Cardone said.
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Whether those words will lift the spirits of investors who’ve grown weary of stock market volatility is another story.
Cardone’s comments were reported by The Daily Beast and other news sites on April 22, 2025. On that day, the Dow closed at 39,187 — a 7.9% decline from the Dec. 31, 2024, close of 42,544.22. The Dow has since rallied to close at 42,322.75 on May 16, though it’s still down slightly for the year.
Meanwhile, the Nasdaq has fallen about 1% so far this year after racing to a 2025 closing high of 20,056 on Feb. 19 and tumbling to a 2025 closing low of 15,268 on April 8. Investors who have lost money in the stock market this year are unlikely to take much comfort in Cardone’s embrace of the Trump tariffs — especially since those tariffs have contributed to the market’s volatility.
When Trump announced his sweeping tariff plans in early April, the markets tanked. When he has backed off or delayed those tariffs, the markets soared. For example, stocks rose on May 12 when a temporary break on triple-digit Chinese tariffs was announced, NPR reported.
Investors probably can take comfort in the fact that the stock markets always move higher over the long term, regardless of who’s president.
Between 1965 and 2024, the S&P 500 had average annualized returns of 10.4%, Investor’s Business Daily reported, citing data from Berkshire Hathaway. During those six decades, the index had annual gains as high as 37.6% (in 1995) and annual losses as high as 37% (in 2008).
