As the US pivots back to the great power competition, defense spending likely to be supported for years

Ron Epstein joins us to discuss how the US national security strategy has pivoted from addressing non-nation threats such as terrorism to addressing threats from competitor nation states. Protecting against these nation states requires the ability to project power over long distances, meaning a prioritization of spend on equipment including submarines and aircraft carriers. Ron also explains why defense companies tend to have high returns, low capex risk and why inflation and interest rates are much less of an issue for the industry than for other parts of the market.

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