June 16, 2014
By Peter Bower
Iraq and a swath of Syria and the Levant are on fire. The Romans couldn’t fix it. The Ottomans couldn’t either along with the British and finally, us Americans. If the Middle East determined progress in the civilized world, we would all still be breaking rocks. That is not to ignore the human tragedy taking place, but it is more for the people of the region to fix. They are still fighting over who are the rightful successors and followers of Mohamed more than 700 years after his death.
Uncertainty always un-nerves investors, but this is one instance where all of us have to get over it and move on. Oil will always be sold by whoever controls it. Our best response will be to double down on our own energy independence. The value of most of the world’s great companies has nothing to do with chaos in the Middle East. Markets will adjust and move on, but perhaps not for a little while.
Stay steady, my friend.
the Lonely Bull
