How would you capitalize on a new Russian offensive?


There is an argument that Putin will draft 500k – 1mm soldiers in the new year and use them to attack from Belarus relatively soon, hoping to replicate the way Russians were defeated in the first Chechen war but won the second Chechen war by simply attacking with more forces/people/meat for the grinder.

If you believed that would happen, how would you capitalize on the market?

All I can think of is pretty general: long wheat futures, long weapons/defense manufacturers (eg GD LMT RTX), Short ruble, long oil/gas (maybe).


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