Geopolitics has evolved from a peripheral concern to a core dimension of investment analysis, characterized by sudden onset, high uncertainty, and transmission through both economic and psychological channels. This chapter establishes a systematic analytical framework examining how geopolitical events impact markets through economic shocks, risk premium adjustments, policy responses, and structural shifts. Through historical case studies—from the 1973 oil crisis to the 2022 Ukraine War—it demonstrates that while geopolitical events often trigger short-term volatility, they rarely alter long-term equity trends driven by fundamental economic growth. The analysis emphasizes that understanding geopolitical dynamics is essential for navigating systemic risks, recognizing that national strategic competition increasingly defines the institutional context of global markets.