Always Something To Worry About
The news of the bombing of Iran’s nuclear sights and the subsequent missiles fired at our base in Qatar are the headlines now.
Geopolitical risk is something that is always on the table. Since my career began in 1983 there have been multiple military operations undertaken by the U.S.
- In 1990, President Bush launched Operation Desert Shield to help defend Saudi Arbia after the Iraq invasion of Kuwait.
- On January 17, 1991, Operation Desert Storm was launched and lasted 43 days until Kuwait was liberated.
- In October 2001, Operation Enduring Freedom was launched in response to the 9/11 attack on the U.S. by Al Qaeda and their Taliban supporters.
- The War on Terror was the 20-year war in Afghanistan that began as the 2001 operation.
- Operation Midnight Hammer took place this weekend is in the headlines today.
We are not including every military operation since then, but it does illustrate the frequency of military operations we have had over the last 40 plus years.
At times, our troops are in more danger than other times and at times they make the ultimate sacrifice for our freedom. And we owe our men and women in uniform a debt that can’t be overstated.
The hope of this letter is as advisors for a long time, we know that there is always something to be concerned about.
However, the chart below is the performance of the S&P 500 since January 17, 1991- the onset of Operation Desert Storm. During the period the chart encompasses, there were many scary times including 9/11, the Great Financial Crisis, a worldwide pandemic, etc.
