Well said.I think both Xi and Putin for that matter, are sabre...

Well said.
I think both Xi and Putin for that matter, are sabre rattling to try to unite very restive domestic populations. It’s an old adage, that one.

However there is always the possibility of error or misjudgment on the front lines, as China in particular is engaging in deliberately provocative behaviour.

A naval blockade of Taiwan is always possible but it risks global backlash and condemnation and land invasion logistics is remote as a strategy for success.

It’s mostly bullying and bluster but there is so much risk I do think LYC is overpriced, at least for me.
There are other more LT possibilities such as Australia developing fully onshore but we are a long way from It’s a political dream right now.

Xi and Putin are trying to starve the West and Putin is a blockade fanatic since his mother was a survivor of the St Petersburg siege. China is not buying US Treasuries and moreover nor is Japan. The latter is more of a concern.

The entire thing is a can of worms and we each have differing risk appetites and allocations. It is however, fascinating and like you I go from the macro to the micro.
Im overweight biotechs and this will play out over the next few years.

Sometimes there is a lot of sentiment underpinning a share price. Interesting discussion and posters need to be more tolerant of alternative views. IMO