[SubPINK] There is an old adage in the investment market: 'Buy when there is fear, sell when there is euphoria.' It is an investment philosophy advocating that one should seize buying opportunities when the market is in panic, and it has proven remarkable returns amidst numerous crises in the past. However, the current global market is trapped in a quagmire of uncertainty that goes beyond simple fear.

U.S. President Donald Trump's surprise tariff offensive is delivering an unexpected shockwave. Starting with the New York stock market, European and Asian markets were shaken in succession, while South Korea's KOSPI and KOSDAQ indices are also widening their declines, showing a rapid freeze in investor sentiment. The cryptocurrency (coin) market has also failed to avoid the weakness. While major coins like Bitcoin, Ethereum, and Ripple are struggling with sluggishness, Bitcoin in particular has shocked the market by breaking the $80,000 mark. This is the time to check whether the so-called phrase 'buy the fear' actually applies right now.

The reason this 'Trump-triggered trade war' is particularly worrisome is because its end cannot be fathomed. It is impossible to predict whether it will remain mere political rhetoric or escalate into a full-fledged, multi-directional trade conflict. With political uncertainty overlapping a global supply chain that is still unrecovered and barely holding on since the pandemic, the market is becoming even more sensitive.

Some investors are taking this uncertainty as a buying opportunity, but hasty responses should be guarded against. 'Contrarian investing' in a state where the market has not calmed down can potentially lead to massive losses. In particular, as President Trump once again stands at the center of policy and begins to directly impact the stock market, political risk is no longer an indirect variable. Now is not so much the timing to quickly buy the dip of fear, but rather a time to calmly observe the market's trends and reduce risk. It is a point in time that requires a comprehensive judgment, including the direction of the tariff conflict, interest rate policies of major countries, and geopolitical risks.

The adage 'buy the fear' is certainly valid. However, its premise is 'when the fear shows its end.' In a market like the current one, where neither the depth nor the end of the fear is known, a cautious step may be a better choice than a premature entry.