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April was a reminder that war rarely moves markets the way textbooks predict.
The closure of the Strait of Hormuz should, by any traditional reading, have spelled trouble for risk assets. It did, briefly. What happened next is more surprising, and more instructive, than the initial shock.
The “Thucydides Trap” describes a situation in which a rising power threatens a dominant power, making conflict more likely. This concept is now used to analyze tensions between the United States and China.
Have you ever thought about how you would like to pass on your estate? If you haven’t yet, this article is for you. Estate planning is not only for the very wealthy.
March was, in short, a very difficult month for investors and for anyone trying to make sense of what is happening in the world.
