Is 'National Security' The New Investing Priority? | Peter Tchir

February 19, 2026

AI Summary

5 min read

🎙️ The Voices & The Context

The Format: Structured interview on the Thoughtful Money podcast, blending macro analysis, geopolitics, and investment strategy.
The Key Players:
- Guest: Peter Cher, Head of MacroStrategy at Academy Securities; expert with access to retired generals/admirals/CIA for geopolitical intel; returning guest praised for prior insights on the PROSEC (Production for Security) trade.
- Host: Adam Taggart, founder; facilitates deep dives with probing questions on global shifts and markets.
The Vibe: Educational and optimistic amid tension—insightful breakdowns of risky transitions, laced with pragmatic bullishness on US strategy.

🗝️ Key Themes & Topics

The discussion centers on the shift from globalization to nationalism, emphasizing PROSEC sectors vital for security like critical minerals, energy, and chips. Peter refines the trade amid Trump-era tailwinds, warns of transitional "Molotov cocktail" risks, and eyes geopolitical realignments.

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What you'll learn

1 (00:00) **🎙️ Introduction: Peter Cher**
2 (02:14) **PROSEC Trade Overview and Examples**
3 (04:25) **Prioritizing PROSEC Sectors**
4 (06:44) **Policy Support for PROSEC**
5 (09:07) **Global Geopolitical Positioning**
6 (16:22) **Monroe Doctrine 2.0 / Fortress Americas**
7 (24:38) **Midterms and Bipartisan PROSEC Momentum**

+ Full timestamped outline available in the app

Show Notes

With the era of globalization ending and nationalism on the rise around the world, today's guest has been advocating investors strongly consider the ProSec trade.ProSec is short for "production for Security": aka the sectors essential to national security.Since his last appearance on this channel, in the US, President Trump has proposed a massive 50% increase in military spending next year, and many European nations are considering similar increases.Is betting on further prioritization of national security spending looking even more attractive?How has the ProSec trade been performing so far?To discuss, we're fortunate to welcome to the program, Peter Tchir, Head of Macro Strategy at Academy Securities.

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