Navigator

Navigator

Investment Conclusion 
The Middle East is still heading for a US-Iran war. But the timing is put back to end March (reasons below). The Munich Conference was a calming affair. But that is just a paint job. 

Beneath, the transatlantic alliance is deeply fractured. European – US confrontation will break out again in summer. 

Enjoy the lull. But stay prepared for worse. 

Wealth Preservation Portfolio: No changes this week. But it’s at the back! If you are a QS client & not a QS WhatsApp subscriber, contact us to put this right 
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