Postcards: Russia, Risk Off, and Republic Rules

Things are about to get tricky in Russia. That should benefit our shipping favorites, refineries, and trade flow from technology to energy. Also, we don't need any stinking news channels!

Dear Fellow Expat:

Today, I spent two hours at the Coconut Creek Spa and Resort in Estero, Florida.

My wife, daughter, and brother-in-law went to Epcot. I had a “Day Off.”

I did “check out”… for a staggering two hours.

New league record…

I feel fantastic.

But around 4 p.m., to quote Pearl Jam, “he seemed distracted, and I know just what is gonna happen next…”

I had two thoughts… and they bubbled up.

First, I spoke with my friend in Switzerland about the recent events in Russia.

He has that “Spidy Sense” regarding Russia's next move, having worked there for years and deeply understanding how their politics operate.

In October 2021, he was nearly 100% confident that Putin would invade Ukraine.

Putin did… and we were long Archer Daniels Midland (ADM) before the first missile.

Now… with attacks hitting refineries and an attack at a suburban Moscow concert hall, it’s fair to argue that the gloves will hit the floor.

“Risk off,” my friend said today, " for a while.”

It is unclear how much this wi…