Features
“Agent Sonya” – the story of the Soviet Union’s most important female spy
Reviewed by BERNIE BELLAN I happened to have the radio on one Saturday afternoon – more as background noise than anything, when Elanor Wachtel’s CBC program on books, “Writers & Company”, came on. Normally I don’t pay attention to Wachtel’s program because it requires paying complete attention to the radio – something which I rarely do unless I’m out for a walk. However, as soon as Wachtel began to introduce her guest, a writer by the name of Ben Macintyre, the subject matter immediately grabbed my interest. Here is how she introduced Macintyre:
“Mrs. Len Beurton of Great Rollright, a tiny village in the Cotswolds, was an apparently ordinary housewife and mother of three, famous for her home-baked scones.
“In reality, she was Agent Sonya, a top Soviet operative, transmitting plans for the atomic bomb from an outhouse in her Oxfordshire garden. Her real name was Ursula Kuczynski and her intelligence work took her from her native Germany to Shanghai, Japanese-occupied Manchuria, Poland, Switzerland and England.
“Ursula’s eventful life is the subject of Ben Macintyre’s compelling new book. The British journalist is known for his bestselling accounts of international espionage — stories of intrigue, romance, betrayal, war, loyalty and conflicted morality. Over the past 30 years, he’s produced a dozen engaging, authoritative studies of high-profile figures ranging from Britain’s famed double agent Kim Philby to Moscow’s Oleg Gordievsky, who spied for Britain. He is also currently a columnist and associate editor for the Times U.K.”
As I listened with rapt interest to Macintyre describing the life of “Agent Sonya” I was determined to read his book – and I did, in less than a week.
Now, while I have somewhat of an interest in spy thrillers, including several I’ve read by Daniel Silva who features an Israeli spymaster by the name of Gabriel Allon (after being turned on to Silva two years ago during one of the meetings of the book club this paper co-sponsors with the Rady JCC, when our brilliant convener Sharon Freed who, unfortunately died much too young, included Silva’s “Rembrandt Affair” on the reading list that year), I much prefer reading non-fiction accounts of espionage, especially when they’re about the Mossad.
So, when Macintyre began to relate the story of an incredibly successful female spy for the Russians whose story has gone relatively unreported – and then happened to remark that she was Jewish to boot – well, he had me hooked.
Sonya Buerton (born Ursula Kuczynski, a.k.a. Sonya Hambuerger) was one of those rare individuals who not only succeeded brilliantly at her craft, she managed to live out her days dying a natural death in Moscow in the 1970s. That she survived the Stalin era in itself is rather extraordinary as Stalin’s paranoia led him to purge the ranks of his spy network on an ongoing basis – including a good many of the agents who had nurtured Sonya’s own career.
The fact that Ursula Kuczynski was born into an upper class Jewish family in Berlin in 1908 is something that I found most intriguing. The often pivotal roles that many Jews played in the spread of communist ideology in the first few decades of the 20th century is something that is widely known, but reading about someone who came from quite a prosperous family and who chose to commit herself to the pursuit of an ideology that was essentially antithetical to her own upbringing – and remained absolutely committed to that vision throughout her life, is not easy to understand.
Having experienced the chaos of the Weimar Republic in Germany one might well comprehend how someone as intelligent and well-educated as Ursula would have been drawn to communism in her late teens – at a time when Germany was being polarized into two camps – fascist and communist. It doesn’t seem, however, that the Kuczynski family’s being Jewish had much to do with what eventually became a thoroughly unquestioning loyalty to Soviet Communist ideology on the part of everyone of its members, including Ursula’s father, brother, and four sisters. That Ursula remained committed to communism throughout her life, however, despite all the betrayals of its goals perpetrated by Stalin and his disciples, is much more difficult to understand.
Macintryre doesn’t spend much time exploring the lure that communism held for Jews, but what I found particularly unsettling is how each member of this family was able to rationalize Stalin’s atrocities. Further, when the Russian Foreign Minister Molotov and his German counterpart Von Ribbentrop signed their non-aggression pact in 1939, the fact that so many communist sympathizers were able to twist themselves into pretzels defending a total betrayal of everything they had been espousing when it came to fighting fascism is really an indication how easily communist sympathizers could justify a 180 degree reversal in thinking without much compunction.
Ursula’s life, as told by Macintyre, was thoroughly documented throughout her lifetime, by her and by others, who kept detailed accounts all through the 1920s, 30s, and 40s. It turned out that Ursula was actually an excellent writer and her journals were not only detailed and very readable, when she eventually managed to escape to the Soviet Union shortly after the end of World War II, she managed to turn her fine writing talent into a craft as a writer of spy thrillers under the pen name “Ruth Werner”. (Her books, written in Russian and translated into several languages, actually sold quite well. As Macintyre notes, Ursula was merely one more former spy who was able to use their own experiences in order to turn out masterful spy novels. Included in that group also were Graham Greene and John Le Carré.)
Yet, as much as Ursula’s being Jewish does not play a central role in “Agent Sonya”, consider this: Her first marriage was also to a fellow Jew, an architect by the name of Rudolf Hamburger. Hamburger himself had no interest in Ursula’s communist leanings early on, and he was rather successful as an architect. But, in one of the most surprising twists in the story, once he and Ursula moved to China, where he helped to design some of the famous buildings along Shanghai’s Bund, and Ursula was first approached with the idea of becoming a Russian spy, even all the while that their marriage was falling apart, Hamburger was gradually transforming into a communist himself.
Further, even after Ursula left him – and the child that she bore while married to him, Hamburger became convinced that he too had to become a Russian spy! All the while he still loved Ursula too, even after he learned that she had become pregnant by another man and then again, by yet a third man.
It was in China that Ursula became a full-fledged Russian spy – with a change of name to Sonya. Several characters played key roles in leading to Ursula’s gradual induction into the world of Soviet espionage, including an America writer by the name of Agnes Smedley – a larger than life character who eventually became a leading apologist for Mao Tse Tung’s totalitarian rule.
The cast of characters in “Agent Sonya” is riveting. What Macintryre does so brilliantly is describe how ordinary individuals who would not stand out in any exceptional way possess the key ingredients that it takes to be a successful spy, including, among others: resourcefulness, an exceptional ability to lie one’s way through any situation, and what Ursula Kuczynski apparently possessed in spades: an ability to thoroughly compartmentalize one’s life.
Here we have a woman who, on the one hand, is a capable housewife – and mother – to three different children, by three different men no less! (and the children actually move with her from time to time as she’s relocated by her Soviet spymasters to different locations around the world, including Manchuria, Poland, Switzerland, and finally Britain), at the same time as she is able to insinuate herself into the upper echelons of enemy administrations wherever she is based.
In one passage that I found particularly compelling, “Sonya” describes how difficult it often was for her to sleep – and dream, without finding all the contradictory aspects of her various secret lives running up against one another. All the while she did this without resorting to alcohol or drugs – which is what almost inevitably become the crutches upon which spies lean. That she was also able to move from relationship to relationship with different men – twice at the order of her Soviet spymasters, and actually have honestly warm relationships with them to the point where she did love them yet, when ordered to leave those men, embark on a new assignment, is testament to her total acceptance of her role.
Here’s another interesting note about Sonya: As much as the intelligence she provided about various enemies, including: Chinese Republicans in Shanghai, Japanese occupiers in Manchuria, and German Nazis in Switzerland, was of great value to Russian intelligence, it was when she was able to move to England in 1941 that her greatest espionage coup was to come.
Living in a nondescript farmhouse in an out of the way village not too far from Oxfordshire – and by this time her name was now Sonya Buerton (the last man to whom she was married was also a spy by the name of Len Buerton), she was put in touch with a German-born scientist by the name of Klaus Fuchs. Fuchs was a brilliant physicist who was working on Britain’s own plan to develop an atomic bomb – separate and apart from what the Americans were doing at the same time. He was, however, a devout communist and determined to share whatever secrets he could with the Russians.
Sonya became his intermediary through which he was able to pass along reams of information to the Russians that proved to be of incalculable value in helping the Russians to leap frog what would undoubtedly have taken them years more to acquire on their own. Later, he moved to the U.S. to work on the fabled Manhattan Project. It was while he was in the U.S. that he had a change of heart, however, and turned himself in as a spy to the Americans. At the same time, though, he never betrayed Sonya.
Macintyre asks repeatedly how it was that Sonya was never caught by British intelligence, despite all the evidence that had been pointing for quite some time in her direction. Although he doesn’t arrive at a definitive conclusion, he suggests that more than anything, it was the total incompetence of the head of MI5 (Britain’s internal intelligence service), someone by the name of Roger Hollis, that led to Sonya’s being able to evade arrest.
At the time there was only one woman in a senior position in MI5, whose name was Millicent Bagot. Bagot was a dedicated – and thoroughly competent spychaser, far better qualified in her position than Hollis, who never believed that a woman could be a successful spy. Bagot was actually convinced early on that Sonya was a Russian agent and she bitterly fought to keep her from being allowed to enter Britain in 1941.
There is more than a little irony in the fact that one of Russia’s most successful spies of all time was a woman who was able to carry on her espionage precisely because she was a woman, while the one individual who would undoubtedly have been able to expose Sonya was also a woman but whose abilities were constantly underestimated, just as Sonya’s were, surrounded as she was by thick headed men.
“Agent Sonya” is a thoroughly compelling read. While the fact that Sonya was Jewish may be regarded as largely irrelevant to what became the story of her life since it never seemed to play any role in what ultimately ensued, I’m sure that for Jewish readers of this book the awareness that the person they are reading about was Jewish will lead to one’s wondering whether her being Jewish played a much larger role in her story than perhaps even Sonya herself was aware.
Here’s what Macintrye himself has to say in summing up Ursula’s life toward the end of his book: “If you had visited the quaint English village of Great Rollright in 1945, you might have spotted a thin, dark-haired and unusually elegant woman emerging from a stone farmhouse called The Firs, and climbing on to her bicycle. She had three children and a husband, Len, who worked in the nearby aluminium factory. She was friendly but reserved, and spoke English with a faint accent. She baked excellent cakes. Her neighbours in the Cotswolds knew little about her.
“They did not know that the woman they called ‘Mrs Burton’ was really Colonel Ursula Kuczynski of the Red Army, a dedicated communist, a decorated Soviet military intelligence officer and a highly-trained spy who had conducted espionage operations in China, Poland and Switzerland, before coming to Britain on Moscow’s orders. They did not know that her three children each had a different father, nor that her husband was also a secret agent. They were unaware that she was a German Jew, a fanatical opponent of Nazism who had spied against the fascists during the Second World War and was now spying on Britain and America in the new Cold War. They did not know that in the outdoor privy behind The Firs, Mrs Burton had constructed a powerful radio transmitter tuned to Soviet intelligence headquarters in Moscow. The villagers of Great Rollright did not know that in her last mission of the war, Mrs Burton had infiltrated communist spies into a top-secret American operation parachuting anti-Nazi agents into the dying Third Reich. These “Good Germans” were supposedly spying for America; in reality, they were working for Colonel Kuczynski of Great Rollright.
“But Mrs Burton’s most important undercover job was one that would shape the future of the world: she was helping the Soviet Union to build the atom bomb.
“For years, Ursula had run a network of communist spies deep inside Britain’s atomic weapons research programme, passing on information to Moscow that would eventually enable Soviet scientists to assemble their own nuclear device. She was fully engaged in village life; her scones were the envy of Great Rollright. But in her parallel, hidden life she was responsible, in part, for maintaining the balance of power between East and West and (she believed) preventing nuclear war by stealing the science of atomic weaponry from one side to give to the other. When she hopped on to her bike with her ration book and carrier bags, Mrs Burton (or, more precisely, Beurton) was going shopping for lethal secrets.
“Ursula Kuczynski was a mother, housewife, novelist, expert radio technician, spymaster, courier, saboteur, bomb-maker, Cold Warrior and secret agent, all at the same time.”
“Agent Sonya” – the story of the Soviet Union’s most important female spy
“Agent Sonya”
By Ben Macintyre
354 pages
Published Sept., 2020
Available on Amazon
Features
Statistical Volatility Models in Slot Mechanics: Extended Expert Analysis Informed by Pistolo Casino
Analytical reviews of slot volatility often reference ecosystems similar to those found at Pistolo casino. Within the gambling research community, volatility is understood not as a marketing attribute, but as a technical framework that shapes how digital slot systems distribute outcomes over time. Expanding on earlier overviews, this extended analysis examines the deeper mathematical logic behind volatility classes, as well as their implications for long-term behavioural modelling.
Volatility as a Mathematical Architecture
Slot volatility is commonly divided into high-, medium-, and low-risk models, yet this simplified categorisation hides the structural complexity underneath. Developers configure several layers of probability weighting, which include:
- Event Density Layers – Each slot contains multiple weighted segments representing minor, medium, and rare outcomes.
- Return Frequency Curves – These curves dictate how the distribution of payouts drifts around the long-term equilibrium.
- Reel Weighting Matrices – Symbol appearance probability is shaped not only by frequency but also by conditional dependencies within each reel strip.
Research drawing on examples parallel to Pistolo casino shows that modern slots increasingly use modular probability blocks, making outcome variance more flexible and more precisely adjustable during development.
Behavioural Interpretation of Volatility Signals
From a player analytics perspective, volatility modelling helps identify how different user groups respond to varying risk structures. High-volatility mechanics frequently attract users who seek extended tension cycles and the possibility of occasional strong outcomes, while low-volatility systems are associated with steady-state gameplay and longer average session times.
Analysts also examine “volatility fatigue,” a concept describing the moment when prolonged dry cycles reduce engagement. By tracking these patterns, researchers can map how changes in event spacing affect decision-making, bet sizing, and persistence.
Simulation Methodology for Evaluating Volatility Accuracy
Technical audits rely heavily on large-scale simulations—sometimes exceeding fifty million iterations — to verify that the modelled volatility aligns with theoretical expectations. Key indicators include:
- Hit rate stability across long sequences
- Distribution symmetry, ensuring outcomes do not drift into accidental bias
- Deviation corridors, which define acceptable ranges for short-term anomalies
- Return-to-player convergence, showing whether the model equilibrates over time
When discrepancies appear, developers may adjust symbol weighting, probability intervals, or feature-trigger frequency until the system reaches internal balance consistent with regulatory and mathematical demands.
Volatility’s Role in Market Diversity
Volatility modelling helps explain the substantial variety between slot titles. Instead of relying solely on themes or graphics, modern game design differentiates titles by emotional rhythm and progression speed. This technical approach has led to more deliberate pacing structures where reward cycles, anticipation building, and event clustering are calibrated through mathematical systems rather than subjective intuition.
Conclusion
Volatility remains one of the most precise and data-driven components of slot design. Its study provides insight into outcome diversity, behavioural responses, and long-term predictability. Research frameworks referencing platforms comparable to Pistolo Casino highlight how volatility models shape modern gambling environments through measurable probability engineering and large-scale simulation.
Features
Bias in America’s Colleges Produced Modern Anti-Zionism
By HENRY SREBRNIK Jon A. Shields, Yuval Avnur, and Stephanie Muravchik, professors at the Claremont Colleges in California, have just completed a study, “Closed Classrooms? An Analysis of College Syllabi on Contentious Issues,” published July 10, 2025, that draws on a database of millions of college syllabi to explore how professors teach three of the most contentious topics: racial bias in the criminal justice system, the Israel-Palestine conflict, and the ethics of abortion.
They used a unique database of college syllabi collected by the “Open Syllabus Project” (OSP). The OSP has amassed millions of syllabi from around the world primarily by scraping them from university websites. They date as far back as 2008, though a majority are from the last ten years. Most of the data comes from universities in the United States, Britain, Canada, and Australia.
“Since all these issues sharply divide scholars, we wanted to know whether students were expected to read a wide or narrow range of perspectives on them. We wondered how well professors are introducing students to the moral and political controversies that divide intellectuals and roil our democracy. Not well, as it turns out.”
In the summary of their findings, “Professors Need to Diversify What They Teach,” they report that they found a total lack of ideological diversity. “Across each issue we found that the academic norm is to shield students from some of our most important disagreements.”
Teaching of Israel and Palestine is, perhaps no surprise, totally lopsided, and we’ve seen the consequences since October 7, 2023. Staunchly anti-Zionist texts — those that question the moral legitimacy of the Israeli state — are commonly assigned. Rashid Khalidi, the retired professor of Modern Arab Studies at Columbia, is the most popular author on this topic in the database. A Palestinian American and adviser to the Palestine Liberation Organization delegation in the 1990s, Khalidi places the blame on Israel for failing to resolve the conflict and sees the country’s existence as a consequence of settler-colonialism.
The problem is not the teaching of Khalidi itself, as some on the American right might insist. To the contrary, it is important for students to encounter voices like Khalidi’s. The problem is who he is usually taught with. Generally, Khalidi is taught with other critics of Israel, such as Charles D. Smith, Ilan Pappé, and James Gelvin.
Not only is Khalidi’s work rarely assigned alongside prominent critics, those critics seem to hardly get taught at all. They include Israel: A Concise History of a Nation Reborn by Daniel Gordis, a professor at Shalem College in Israel. Gordis’s book appears only 22 times in the syllabus database. Another example is the work of Efraim Karsh, a prominent historian. His widely cited classic, Fabricating Israeli History, appears just 24 times.
For most students, though, any exposure to the conflict begins and ends with Edward Said’s Orientalism, first published in 1978. Said is the intellectual godfather of so many of today’s scholars of the Middle East, thanks in no small part to this classic book. Said was a Palestinian-American academic, literary critic, and political activist from a prominent Christian family. Educated at Princeton and Harvard Universities, two of America’s most distinguished centres of higher learning, he taught at Columbia University, another Ivy League institution, until his death in 2003.
Said was no crude antisemite. His writings were aimed at academics and intellectuals and he has, in my opinion, done more damage to the Jewish people than anyone else after 1945. Said claimed to be the first scholar to “culturally and politically” identify “wholeheartedly with the Arabs.” But he was also a political activist for the Palestinian movement opposing the existence of Israel.
Said warned PLO leader Yasir Arafat that if the conflict remained local, they’d lose. Join “the universal political struggle against colonialism and imperialism,” with the Palestinians as freedom fighters paralleling “Vietnam, Algeria, Cuba, and black Africa,” he advised.
(In this he was not the first, though. Fayez Sayegh, a Syrian intellectual who departed for the United States and completed his Ph.D. at Georgetown University in 1949, preceded him. Also an academic, his 1965 monograph Zionist Colonialism in Palestine stands as the first intellectual articulation of Zionism as a settler colonial enterprise, arguing that the analytical frameworks applied to Vietnam and Algeria apply equally to Palestine. The treatise situated Zionism within European colonialism while presenting it as uniquely pernicious.)
Israel’s post–Six-Day War territorial expansion helped Said frame Israel as “an occupying power” in a 1979 manifesto titled The Question of Palestine. Alleging racial discrimination as the key motive was a means of transforming the “Zionist settler in Palestine” into an analogue of “white settlers in Africa.” That charge gained traction in a post-Sixties universe of civil rights, anti-imperialism, anti-colonialism, and Western self-abnegation. The work sought to turn the tables on the prevailing American understanding of Israel: It is not, in fact, an outpost of liberal democracy or refuge from antisemitism, but an instrument of white supremacy.
Orientalism popularized a framework through which today’s advocates on behalf of Palestinians understand their struggle against the state of Israel and the West generally. Said casts the Western world as the villains of history and peoples of the East as its noble victims.
The essence of the book, Said concluded, is the “ineradicable distinction between Western superiority and Oriental inferiority.” It falsely affirms “an absolute and systematic difference between the West, which is rational, developed, humane, superior, and the Orient, which is aberrant, undeveloped, inferior.”
So it was impossible to take Zionism seriously as one among the myriad nationalist movements that emerged in the nineteenth century, much less to see Israel itself as a land of refugees or the ancestral homeland of Jews. And, indeed, Said’s Orientalism singles out Israel for special rebuke, suggesting that the state could be justified only if one accepted the xenophobic ideology at the core of Western civilization. Israel’s defenders, particularly those who lament the lack of democracy in the Middle East and fault Arabs for their militancy, represent the “culmination of Orientalism.”
Said is widely acknowledged as the godfather of the emerging field of postcolonial studies, and his views have profoundly shaped the study of the Middle East. Said also inspired – and in some cases directly mentored – a generation of anti-Zionist U.S. scholars whose dominance in the academic study of the area is unquestionable today.
The political left that emerged trained itself to read every conflict as the aftershock of colonialism. The ideological narrative of oppression and resistance allowed even the jihadist to become a post-colonial rebel.
It’s hard to overstate the academic influence of Orientalism. The authors note that “As of this writing, it has been cited nearly 90 thousand times. It is also the 16th most assigned text in the OSP database, appearing in nearly 16 thousand courses.” Orientalism is among the most popular books assigned in the United States, showing up in nearly 4,000 courses in the syllabus database. Said’s work appears in 6,732 courses in U.S. colleges and universities.
But although it was a major source of controversy, both then and now, it is rarely assigned with any of the critics Said sparred with, like Bernard Lewis, Ian Buruma, or Samuel Huntington. Instead, it’s most often taught with books by fellow luminaries of the postmodern left, such as Frantz Fanon and Judith Butler.
All these ideas are now embedded into diversity, equity, and inclusion identity politics, and “humanitarian” outrage over supposed Israeli “settler-colonialism,” “genocide,” and “apartheid.”
The ground for the massive pro-Hamas college and university encampments, and attacks on Jewish students, was prepared decades ago. The long march of progressives through American institutions over the past decades has taken its toll on society.
Henry Srebrnik is a professor of political science at the University of Prince Edward Island.
Features
Exchange Rate Factors: What Global Events Mean for Savvy Investors
When Russia invaded Ukraine in 2022, it created ripples in all financial markets, including currency markets. The Euro weakened while the dollar surged and emerging market currencies wobbled. Global factors can quickly affect financial markets and shake established trends. Apart from such rare events, currencies tend to change their price because of interest rates, inflation, and overall investor confidence. For investors managing money abroad, understanding these movements is critical to avoid losses and mitigate risks.
Below, we will break down how global political, economic, and cultural events influence exchange rates, with insights for savvy investors.
Economic factors
There are several key exchange rate factors with a consistent history of shaking financial markets. These factors include inflation, interest rates, trade balances, employment rates, and so on. Since economic factors are shaping markets almost daily, we start with those.
Inflation and interest rates
Inflation and interest rates are closely connected as one can easily affect the other. When inflation rises, central banks step in and raise interest rates to reduce inflation, and when inflation is lower, central banks can lower interest rates to make borrowing money cheaper. As a result, investors closely monitor these two metrics to anticipate changes in interest rates. Higher inflation makes currencies weaker, and whenever banks change the rates, the changes are immediately reflected in global currency rates. In the United States, the Federal Reserve is the central bank that sets interest rates in the country.
Trade balances and economic growth
A country that exports more than it imports has a stronger demand for its currency. More demand equals a stronger currency. However, the Japanese yen was always weaker against the dollar because the BOJ of Japan tends to have super low rates near 0 to support its exporters. Economic growth also increases demand for local currency as more investors try to invest in the country’s economy. Long-term investors often track this data to detect early signs of any changes in currency strength.
Political and geopolitical factors
Elections, sanctions, and overall political stability are also crucial factors. If the country gets under sanctions, its economy crumbles and its currency becomes inflationary, losing its value quickly. Elections are also crucial for a currency’s strength. Geopolitical events can have a serious impact on the currency as well. The most obvious example is the 2016 Brexit events that made GBP lose its value rapidly and violently. Global conflicts, such as wars, can seriously impact global financial assets, especially currency markets. When tensions are high, safe-haven currencies like USD and CHF (Swiss Franc) become very popular among investors as they seek a safe place to protect their capital.
Cultural and social factors
People like tourists, workers, and diaspora communities can shape currencies as well. Tourism usually drives seasonal demand, and countries that are popular destinations during certain seasons experience their currency appreciation as demand spikes. The perception matters as countries seen as safe and opportunity-rich tend to attract more investors, solidifying their currency strength.
Technology and innovation
Technology is seriously affecting everything, especially the financial sector. Digital payment systems, blockchain technology, and fintech startups have made it easy and swift to move money around. Cryptos and stablecoins enable investors to protect their capital using stablecoins during volatile times. The latest trend among banks is to work on CBDCs, which signals a new era where national currencies are blended with technology and blockchain. Despite this, currencies, even in their crypto form, will continue to be influenced by all major factors mentioned above, and knowing how these factors impact your currency is key to keeping your capital safe from risks.
Practical lessons for savvy investors
So, what do all these factors teach us about global currency rates and investing strategies? The key lies in proper preparations and anticipation. Monitoring macro trends, policy announcements, and major geopolitical and political developments is critical.
Diversify
The number one method which is used by professional investors is diversification. This simply means to spread your risks across a basket of assets. By not investing all your capital in one instrument, you can mitigate risks. If one asset experiences a loss, other ones will counter it with returns. Building a diversified portfolio is key to properly diversifying. For example: divide your capital to buy stocks, commodities, currencies, and cryptos so that if one fails to perform, others will counter it. This ensures a stable income without unnecessary losses in the long run.
Hedge
Forex options and ETFs are great hedging assets. Forex options let investors lock in an exchange rate for a future date, which is very useful if you expect volatility but want stability. Currency ETFs, on the other hand, track specific currencies or a basket of currencies and allow easy trading or protection without trading forex directly, but they are still risky.
Monitor the economic calendar
Economic calendar is a free online tool that aggregates important macroeconomic news data such as interest rate decisions, CPI, inflation, employment rates, central bank announcements and speeches, and other crucial information. By monitoring them, investors can always know when important news data will be released, and they can postpone their investment decisions to avoid volatile times and only invest after the main trend is determined.