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BY VBL
by GoldFix ZH Edit
The Ukraine war brings to light three problems militarily.
- The face of war has changed again and we are unprepared for it
- Right now, there is a shortage of shells for conducting the war we are in.
- Going forward we likely have more of these type wars to fight
Warfare: From Shock and Awe to Muck and Mire
The July 31st TS Lombard report entitled Rearmament- A Lasting Investment Theme assesses the geopolitical implications of the Ukraine war and the implications for investors. Their report first discusses the smart hindsight trade of hedging against the early 2022 “no-Russian invasion” consensus with long positions in leading defense sector stocks. This has shown significant outperformance over the past 18 months. It then contemplates whether this outperformance is a temporary trade or a fully-fledged investment theme…
