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Special Update: Iran and Long-Term Investing

March 3, 2026 | Weekly Commentary

As you have seen in the news, the U.S. and Israel have launched military strikes against Iran, targeting its leadership, military assets, and nuclear infrastructure. Iran’s Supreme Leader is confirmed to have been killed, and Iran has retaliated with missile and drone attacks across the Middle East. President Trump has stated that the goal of the operation, dubbed “Operation Epic Fury,” is regime change in Tehran, with strikes expected to continue for weeks and a number of U.S. troop casualties already reported.

The situation is evolving rapidly, and the safety of civilians in the region and our troops are the most important consideration. Without taking away from the severity of these events, investors will naturally have questions about what this means for markets, oil prices, and their portfolios.

President Dwight D. Eisenhower once said that “plans are worthless, but planning is everything.” Applied to today, the lesson is that specific geopolitical events are unpredictable, but the fact that they occur regularly is not. The process of structuring a portfolio and making financial plans is designed precisely to deal with this uncertainty. While each event is unique, financial markets have navigated countless wars, crises, and regional conflicts, including the U.S. operation in Venezuela earlier this year.

The key for long-term investors is to separate geopolitical headlines from portfolio decisions. What should investors keep in mind as events unfold in the coming weeks?

These strikes are the latest chapter in an ongoing story.

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