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This morning, I reflect again on the underlying dynamics behind U.S.-Iran tensions and put them into words. *(At the end, I’ve included my guiding principles of action.)* The Entrenched Structure of Conflict Each time negotiations and retaliations repeat, volatility emerges in the oil markets, and capital flows steadily into defense and energy sectors. As a consequence, global economic uncertainty rises quietly but surely. This is not a simplistic conspiracy theory suggesting that someone is orchestrating everything. Rather, amid the complex interplay of each nation’s security concerns, resource strategies, and political motives, the same pattern inevitably repeats itself. Isn’t this, however superficially it may appear, an unshakable fact? As an investor, it is essential to remain detached from emotion and calmly assess how this structure impacts the markets. At the same time, we are also ordinary citizens. Behind the scenes lies a grim struggle over wealth and power— • Profits for those supplying weapons, • Wealth disparities driven by fluctuations in resource prices, • Enhanced political influence fueled by heightened tensions— none of which can be called noble or uplifting. And as history repeatedly shows, those most severely affected by these dynamics are ordinary people who hold no special power. We must never forget this. That said, there is no need to succumb to excessive fear or to dismiss everything as a conspiracy. What matters most is a balanced, rational perspective. But one thing is clear: Remaining ignorant quietly accumulates disadvantageous choices over time. Therefore, let us not turn away from reality, avoid long-term judgment, or mistake temporary peace for permanent stability. Instead, strive to deeply understand these structures, carefully organize information, and thoughtfully make better choices within your own capacity. This is the mindset I hold dear, forged through my experience in investing. I believe that this cumulative effort is the most practical and effective way to protect ourselves and our families in an uncertain world.

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