The fog of war: Lasting implications of Russia-Ukraine conflict

"War is the realm of uncertainty; three quarters of the factors on which action in war is based are wrapped in a fog of greater or lesser uncertainty. A sensitive and discriminating judgment is called for; a skilled intelligence to scent out the truth". How to seek out the truth? Analysts are giving polar opposite views. One well-known European fund manager bemoans the flows out of his markets when he sees considerable value appearing. Another well-known commentator argues that it is best to proceed on the assumption that this is a short-term rally in a bear market. Markets are volati...