<p>A week ago, the market “knew” the Iran war would escalate.</p><p>Days later, it “knew” a ceasefire was coming.</p><p>In between, investors were told to be “nimble,” “agile,” and ready for anything—none of which translates into an actual investment decision.</p><p>In this <strong>9-minute video</strong>, I walk through that sequence using <em>Barron’s</em>, <em>Bloomberg</em>, and <em>The Wall Street Journal</em>. The conclusion is straightforward:</p><p>Nobody knew what was going to happen.</p><p>We didn’t either. But we didn’t need to.</p><p>Our plans had a scheduled action on April 6. Prices were down. The rules said buy. We executed.</p><p>That’s the difference between a process and a guess.</p><p>If you rely on headlines, you’re always reacting after the fact. If you rely on rules, you’re already positioned when the turn comes.</p><p>See our performance at <a target="_blank" href="http://jasonkelly.com">jasonkelly.com</a></p> <br/><br/>This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit <a href="https://jasonkelly.substack.com/subscribe?utm_medium=podcast&#38;utm_campaign=CTA_2">jasonkelly.substack.com/subscribe</a>