Why shouldn’t I get long all defense stocks? Government spending is unlikely to go down and our military hegemony is the threat that keeps our economic system intact. Military spending is like the maintenance capex of the United States.
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Careful on this thesis... for the first time in a long time we have a government that, although praises our military might, has shown a desire and willingness to stop playing world cop. If the Pax is over, there are way better sectors to invest in than traditional defense...
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