Esra, I think defence and international politics are behind the play on the macro scene. Serious issues playing out - market v command economies. Collapsing economies seems to be a time old defence strategy? That frees supply if there is inability to pay; or buys time to re-position. Re-position and wait. Small caps ripe for the picking. Defence led recovery has been in play for some time when market demand has been low and has reduced the inflationary effect of money printing while polarising the populations. Covers up mistakes. High interest rates free capital to flow into defence when there is low market demand for funds IMO. Not nice but leads to renewal.
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