Robert Armstrong

But what we're seeing right now is just exactly as you're saying, this administration, despite deciding that they want to go and invade the region of an ally in Denmark, no, they're not really being punished for it.

In fact, we're not seeing that much movement overall.

We've seen some big moves from some very specific individual names.

So if we look at Venezuela, for example, the oil refinery stocks,

climbed a lot.

So Phillips 66 up 6%.

And have stayed high.

Stayed high.

Valero up 12%.

The oil service stocks also climbing.

Halliburton, Schlumberger.

There are a few kind of specific names.

By the way, the same thing's happening in Greenland, where there are some publicly traded rare earth companies that operate in Greenland.

They've soared.

So Critical Metals up 6%.

25%, energy transition minerals up more than 30%.

I mean, big, big, big moves, but only in a very, very small handful of stocks.

The market as a whole doesn't seem to care that much.

The S&P is up a little bit, but overall, I mean, these very cataclysmic events in the world of geopolitics, Venezuela and Greenland, the market doesn't really care.

Interesting that Wall Street seems to disagree with that, that he says something that seems perhaps implausible.