As we move into the second quarter, the change in seasons offers a useful reminder for investors. After a long winter— both in weather and in markets at times—there is a natural impatience for signs of growth. Gardeners know this feeling well. Months of preparation, planning, and waiting can feel uneventful, even discouraging. Yet beneath the surface, progress is quietly taking place. Investing often follows a similar path.
Today, investors are once again confronted with heightened geopolitical uncertainty, most notably the ongoing conflict involving Iran. While the near-term path of this situation remains highly uncertain, history reminds us that geopolitical events—while unsettling in the moment—rarely alter the long-term trajectory of financial markets.