The following is a transcript – edited for clarity – of an interview on 28 November 2024 by Portfolio Construction Forum’s US correspondent, Robert Huebscher, with Woody Brock, president of Strategic Economic Decisions.

Bob Huebscher:  One of the things you’ve written about and we’ve spoken about in a prior interview is that the probability of global conflict has increased as there are now more countries and non-state actors involved, particularly in the Middle East. Any further thoughts on the likelihood of a broader global conflict?

Woody Brock:  ...