Russia, Ukraine and Our Investments

I think we have all been horrified by the invasion of Ukraine. I know that my emotions were running high—and I also know that making investment decisions in that state of mind is expensive. So, instead, I  asked each of our key investment partners to chime in with their team’s opinions. We wanted to know what changes they may or may not be making.

In sum, we confirmed our beliefs: the right way to invest is to diversify by strategy. Most, if not all, of our investment managers are optimistic about investment situation even if they are unanimously upset about the situation on the ground.

Here are links to commentary from a select few partners, in alphabetical order.

If you would like to learn more about your particular portfolio, and in particular what holdings (if any) you may have in a Russian company, please contact your financial planner.

On a personal note, I spent most of one summer in the USSR when I was in high school. As an ambitious youth ambassador, I and a group of Americanski teenagers thought we could help create world peace. We held a fake nuclear summit with a bunch of Russian kids. We visited Ukraine. We made friends for life.

The thought of any of those kids—now old men and women with families like me—at war, possibly with each other, is terrifying. It brings back the horror stories of our parents, and grandparents. Previous generations fought shoulder-to-shoulder, Americans and Soviets, against our common enemy in WW2.

The real-world quickly disabused me of any desire to pursue a career in diplomacy! The USSR fell apart, Ukraine was created, and now we witness history unfolding.

Over the very long journey of history, Eurasia has been conquered and reconquered many times. My personal favorite stories surround the Cossacks—terrifying warriors on horseback who swept across the steppe. They kept their enemies off balance, created incredible music, and danced. So romantic! Now that I am older, and just a little more wise, I’ve learned that the Cossacks, like seemingly every culture, have a mixed history of sometimes awful behavior.