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Single best idea, and today there were multiple best ideas on the state of the market into earning season. Thank you so much to our team for analysis of Gold and Sacks, and we'll dive into the earning season tomorrow and on through April as well. But overshadowing all of course, was the news from the Eastern Mediterranean in a war. In this word, maybe from books we read centuries ago of blackcades. Jean Beauvain of Blackrock on the linkage of our geopolitics to our markets.
But I do think that these are events that the markets cannot really priced in one way or the other. I mean, these are binary. If we're going to see a bad outcome coming, then the market will react, But until then, I think it's very costly to stone sideline for for market participants. And there is a credible likely scenario where things, you know, they escalate from here.
Jean Beauvain of Black Rock. Peter Shecher came by Academy Securities is different with a real geopolitical and military bent. Their board is made up of Sundry generals and Sundry admirals as well, so Peter Cheer spends a lot of time on the linkage of our international relations into the markets.
Here, Peter Cheer, I think the reality is if this blockade can be implemented in such a way that the ceasefire is not broken, it's fine. I think that's the risk, though, is that this just causes some degree of escalation.
World War two analyze return seventeen percent per year, Korean War eighteen percent per year, Vietnam single digit, six percent per year, Gulf War twelve percent per year, I Rock War ten percent per year. All up, stock markets do well in military conflict, don't they.
They have in the past, and I think they could do again over time with this one as well. We again, we Russia, Ukraine have been in conflict and stocks have generally done pretty well. I think this time, though, we've got to be a little bit cautious, because I feel like this is more once again a shifting of the world order, and some of the prior conflicts actually shift of the world order heavily in favor of the US. This seems to be kind of a continuing This theme of deglobalization.
Puresher there of academy securities. I really can't say enough about the eclectic set of forward views in the stock market that we heard today. It was not unusual, but really front and center. The divergences of opinions that are out there on podcasts, are on Apple, we're on Spotify. On YouTube podcasts, it's single best idea.