An Uncomfortable, But Justified, Column About War

I’m just a man trying to figure things out. God bless.

Open discourse isn’t a luxury; it’s a necessity. It’s the only way ideas get pressure-tested in the real world. Without it, we’re left with intellectual safe spaces that feel comfortable, but produce people wearing N-95 masks in the middle of a wide open park with nothing but miles of fresh air around them.

If the only opinions we tolerate are the ones that mirror our own, we’re not engaging in dialogue — we’re engaging in self-affirmation. And self-affirmation might feel good in the short term, but it does nothing to sharpen thinking or uncover blind spots. It takes courage to consider other viewpoints, even if you don’t wind up agreeing with them.

Sitting with an idea that challenges your priors — even if you never agree with a single solitary iota of it — requires far more confidence than instantly dismissing it.

I knew my last piece, “An Uncomfortable, But Justified, War,” would strike many readers the wrong way. Geopolitics has always been one of the most divisive subjects I write about, and I’m well aware that my readership spans a wide range of views. I knew the column would be at odds with some of you — and I was right.

The feedback came in quickly. One subscriber wrote, “Wow! I’m done here.” Another said, “You drank the Kool-Aid.” Another subscriber commented, “I can’t believe I wasted my money on this.” I received messages saying, “Cancel my subscription. This is total nonsense. Stay out of politics and stick to financial things.” Others called the piece “comical,” “totally misguided,” and “way out of line.”

And that’s cool. I appreciate and thrive on both the negative and the positive feedback. Truly. I also respect anyone who decides to unsubscribe. I’ve always said I’m happy to offer a pro-rata refund to anyone, anytime. No hard feelings. Not everything is for everyone.

But it’s moments like this also feel like a good time to remind people of the point of this blog. This blog has always been a collection of my thoughts and musings, as it says on my “About” page. It is not a neutral newswire, not a political action committee, and not a product engineered to align perfectly with every subscriber’s worldview. It is a forum for perspective.

So when someone says a post is “out of line,” I have to ask: out of line with what?

The entire premise of this platform is taking what’s in my head and putting it down in posts, whether about finance, current events or anything else. I’m always going to say what I think. That doesn’t mean I claim infallibility — it means I claim ownership of my views at the time I publish them. If I started filtering my opinions based on who might unsubscribe, the blog would lose the very thing that makes it distinct: what Doug Stanhope would call the “carnival” in my head.

Most of what I write — including the pieces that draw the most heat — is written from a calm, analytical place. Even if I have a decisive opinion, I’m genuinely curious about the other side of any argument. I find that you’ll resolve and compromise on more topics by trying to understand them than by immediately rejecting them. That’s true in politics, in relationships, and in markets.

I’m not speaking from a pedestal here. I’m not perfect at this either. I have my own biases and blind spots. I wasn’t surprised that many people disagreed with me at all. What surprised me was how many had a hair-trigger reaction and decided to pack it up immediately. I read ZeroHedge every day and don’t agree with half the stuff on their site, yet it’s still one of my favorite places to read and contribute because it’s off the beaten path. Exposure to ideas I disagree with hasn’t weakened my thinking — it’s strengthened it. Hence yesterday’s defense of the other piece I published about value investing earlier in the day before my Iran post set the blog ablaze.

And sometimes, oddly enough, being “off the beaten path” even means agreeing with the mainstream. That sounds contradictory, but it isn’t. The point isn’t to reflexively oppose consensus; it’s to think independently. Sometimes independent thought leads you to challenge the prevailing narrative. Other times it leads you to conclude that the mainstream has it right. The consistency isn’t in the position — it’s in the process. The willingness to examine both sides without tribal loyalty is what matters. For example, when discussing Pam Bondi in front of congress talking about the Epstein files, I know my critical position of her job probably stands at odds with many of the pro-Trump people who supported yesterday’s Iran post.

Which is to say, we’re not going to agree with everyone about everything.

“I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend.”

- Thomas Jefferson to William Hamilton, April 22, 1800

This isn’t a lecture. Just that I’m personally starting to learn that in politics, in life, in relationships and especially in investing, you will get nowhere if you cannot calmly listen to a side of the story you disagree with. If you’re long a stock, you need to understand the strongest possible short case against it. You should actively seek it out. Where is your thesis vulnerable? What assumptions are you making? What facts are you discounting? How else would you know if there are holes in your reasoning? Wouldn’t you rather identify them yourself than live inside an echo chamber that protects your ego but blinds you to risk? Markets punish emotional certainty. They reward intellectual flexibility.

At some point, there will be a counterpoint to my last article written by someone I respect. When that happens, I’ll likely share it. I’ve done that before on controversial topics, knowing full well I’d then catch even more shit for amplifying a perspective that contradicts my own. That’s fine. The goal here isn’t ideological purity — it’s exploration. Presenting opposing views doesn’t weaken the platform; it strengthens the conversation.

Anyway, I wish all of my subscribers the best no matter what side of the political aisle, market or issue you are on. I love and appreciate hearing your comments and I hope you keep them coming — even if it means you’re packing your shit and leaving. I mean it genuinely, it was great having you along for part of the ride, and, just like you, I’m just a man trying to figure things out. God bless.

QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author.

This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier.

The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.