Geopolitical risk around the world leads to capital flight to safe havens. Political volatility is typically not good for savers and allocators as it tends to destroy asset value. Regional political instability and the fear of totalitarian regimes exists in China, Russia, the Middle East, and South America, which now have millions of well-educated and newly wealthy citizens that look to protect themselves and their nest eggs. The IMF reports that we are seeing the first net private capital outflows in emerging markets since 1984. For example, according to Bloomberg, money is quietly leaving China at the fastest pace in at least a decade: an estimated $300 billion in financial outflows in the six months through March 2015.  This is double the capital ($150 billion) that exited Russia prompted by the Ukraine crisis. Overall, the economic outlook in the US is modest, but the country is relatively stable despite political dysfunction, and remains the most attractive on a relative basis. Just as immigrants streamed to Ellis Island, the wealth of the newly prosperous emerging markets will increasingly seek refuge in the United States, as well as other perceived safe havens such as Singapore and Switzerland.