Buy PS because its current price is below a prior strategic transaction valuation, while fee-paying assets have doubled since, implying significant undervaluation.
The author is advocating buying high-quality U.S. equities due to cheap valuations and the expectation of a geopolitical resolution leading to a peace dividend.
The author believes the current military conflict will be contained and targeted, suggesting the market's geopolitical risk premium (e.g., in oil) is likely overstated.
Any potential drop in oil prices from news of an Iranian nuclear deal should be faded, as the agreement is unreliable and the geopolitical risk premium will return.