Let’s say that the Iran war has ended. Being investors, not political pundits or military strategists, we won’t opine on who won. Major events, however, have investment consequences. The incontrovertible winners, on a short and long-term basis, are the engineering, infrastructure, and construction firms that repair the damage, and the munitions manufacturers that replace the equipment consumed in the war. Nobody else comes close. What about oil? Oil prices have already retreated. Iran may rejoin the world oil market, adding to supply.…
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