When Warren Buffett said, “Be fearful when others are greedy and be greedy when others are fearful,” he wasn’t just talking about investing.

He championed contrarian thinking and urged people to capitalize when groupthink can result in emotional extremes.

How do you define an “emotional extreme?” Let’s look at how often people search for the term “tariff” on a popular search engine. 

I don’t know if Warren would consider today’s hyperfocus on tariffs greedy or fearful, but I’m certain he would see it as extreme.

So, if you see stock prices rally on tariff news—or fall as the tariff story unfolds—remember today’s chart.  It shows that people are searching for tariff information, so they may overreact when interpreting an update.

LMK if you are concerned about what’s next with tariffs. Better yet, let me know if you see anything that you consider an “emotional extreme” in the financial world.

trends.google.com, March 27, 2025. “Interest Over Time”