Red Sea, Houthis, War?

On December 18, at approximately 9:00 (Sanaa time), there were two Houthi militant attacks against commercial shipping in the Southern Red Sea. The chemical/oil tanker motor vessel SWAN ATLANTIC was attacked by a one-way attack drone and an anti-ship ballistic missile launched from a Houthi-controlled areas in Yemen. The Cayman Islands flagged SWAN ATLANTIC reported impact on the vessel and requested assistance, the USS CARNEY (CCG 64), the closest U.S. warship, responded to assess damage. At approximately the same time, the bulk cargo ship M/V CLARA reported an explosion in the water near their location. This attack is separate from the attack on the M/V SWAN ATLANTIC. There was no request for support or report of damage. There were no injuries reported during either incident. 
(https://twitter.com/centcom/status/1736899643324383531?s=12&t=LFKFffCQXRqJrDrqt0OO9Q)
 

Houthi attacks have now hit or attempted to hit shipping from 40 nations. Anyone who believes for one minute that this is a narrowly restricted attack on Israel from Yemen is sadly mistaken, in my opinion. 
 
In a state of war, things are often clouded by the “fog of war.” For the century-plus use of this term (originally German), see https://en.wikipedia.org/wiki/Fog_of_war.
 
Starting soon I will be writing a series of commentaries about the implications of this ongoing war. For now, I will just send this quick note. 
 
Voltaire described a condition which, in my opinion, applies today; he suggests that all views need to be tempered. I wonder if certain political leaders, who are making pronouncements in the extreme, have ever read Voltaire. Maybe some have added him to the banned books lists?
 
Voltaire also said, “Doubt is not a pleasant condition, but certainty is an absurd one.”
 
Please stay safe in your holiday travels.

David R. Kotok
Co-Founder & Chief Investment Officer
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