The Images of War
This feels different because it is different.
By Steven Higgins, Financial Advisor, Partner
There has never been a time or season that I can remember when there hasn’t been some sort of angst or catalyst roiling the markets or threatening to disrupt the calm of otherwise serene economic waters. Elections, policies, currencies, budget battles, and – of course – pandemics turn our ears to the narrative and elicit an emotional response that often causes us to question our long-term plans, investments, and goals. I think history has provided us enough details and instances to prove that markets ultimately do continue to “climb the wall of worry” so for this article I’m going to take a breather from the “we have a plan, we have a process, stay the course” message. I get that you get it. This feels personal because it is personal. So let’s separate our money from what is personal.
Let me introduce you to my mother-in-law, Lina Stepova, who gave me permission to share part of her own story and therefore, my family’s story, as my wife and daughters are more Ukrainian by birth than anything else. Lina was born in a displaced persons camp in the English section of Germany following World War II. Her mother, Paula, born in Kerson, Ukraine and father, Anatoli, born in Hkarson, Ukraine were both taken from their homes by the Nazis as teenagers and forced to work in labor camps. After the war was over, neither was allowed to return home so they each made a temporary life living in the camp where they met, were married, and had a baby. They named her Lina Nadia Stepova. A few years later, they found themselves in the Ukrainian neighborhood in Chicago where Lina’s family continued to speak Ukrainian and observe Ukrainian traditions. Lina grew up watching the oppressive agenda of the Communist Party of the Soviet Union plunder the agricultural riches of Ukraine. In 1991, the USSR dissolved and the Cold War ended and Ukraine finally gained independence. Russian influence in the region has gained something of a re-footing and the last decade has seen fighting become more persistent, starting with the invasion of and re-taking of the Crimean Peninsula by Russia in 2014. Now Lina finds herself – like all of us –witnessing the hasty, irrational, and violent assault on Ukraine and democracy by Russia.
War is personal. So much of what often roils the markets and economic agendas is policy driven, systemic, or more recently, scientific. While we feel the outcomes and respond to the volatility, we don’t instantly personalize it. In contrast, the images of destruction, fear, and loss are deeply personal and we relate instantly to the sadness. This feels different, because it is different. Most of the content we see of the war zone isn’t sanitized for our viewing on nightly television. It’s streamed in the rawest form by on-the-ground witnesses. Even Ukrainian President Zelensky has turned to Facebook as his platform of choice to share his message of resilience and determination. In conflicts of the past, nightly news brought the story to our family rooms. Today, brave people on the ground bring the story right to our smart phones. Rightfully, our emotions are triggered in an instant as they should be. It is harder than ever to feel those emotions, to sympathize with the pain and fear and also stay focused and in touch with our own processes and outcomes, but history tells us we have to.
Today, Lina Nadia Stepova, the little baby girl born in a displaced persons camp to two young exiled Ukrainians is herself a mother of two, Pauline and Anthony. Lina also has three beautiful granddaughters. Lina attended college and went on to earn a master’s degree in English. The first moment I met my now mother-in-law, I knocked on the door as a nervous teenager to take her daughter on our first date. I looked inside and saw a lot of cultural decorations. In the most naive comment of my life I asked, “Oh, are you Russian?” That was an enormous mistake that I was quickly made aware of and still deeply regret.
Allie and I are consistent and disciplined in our message and process. We owe that to you as our clients. But it is good to be reminded that we can all express anger, fear, and sympathy while also being steadfast, we owe that to each other. Allie and I take great pride in our availability to our clients. If at any time you want to talk through our process and how we manage through volatile moments like this one, please don’t ever hesitate to reach out to us.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Higgins & Schmidt Wealth Strategies, a registered investment advisor and separate entity from LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
