Hi friends,

It has been a surreal week. As I am writing this newsletter this evening, I feel incredibly blessed to be able to do so in the comfort of my home, without any worry about my personal freedom or safety. It’s a heartbreaking reminder that despite living in modern times, war is still in humanity’s toolkit for dispute resolution — despite being a very blunt and primitive method.

My heart goes out to anyone who is affected by the Russia-Ukraine situation. Regardless of our nationalities, ethnicities, or cultures, we are all humans first. In war, there are no winners. Only survivors. Whichever side may call itself the victor, it is ultimately humanity that loses.

I am no expert in geopolitics or wars, so will refrain from speculating on how the situation will unfold, any subsequent ramifications, and how things will shake out at the end. What I am comfortable doing is sharing some of my thoughts and observations on how macro-volatility continues to play out in the markets.

Today’s topics

The cost of war and its implications for the world

Contextualizing the war through the public markets lens

Gold versus Bitcoin — which is the real safe haven?

If you like to discuss any of the themes, trends or topics further, please feel free to reach out. I would also love to get any thoughts and suggestions on the above.

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