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For those with experience, how are you reacting to post-Brexit?
This is what my financial advisor told me -
I was 50/50 on it...like I said in my previous email 2 weeks ago I wasn't sure...
My great uncle actually lives in London, I think his flat [condo] just fell 1/2 in value overnight probably haha...
Even he hates immigration [he's like a 75yr old "alt-right" type] and he voted Remain...its like everyone in London and Scotland voted remain cuz they have wealth to lose but nobody else really did. A part of me is happy about it, I think the EU and the Euro currency is a disaster and should have never happened
Correct- do not sell anything. There's no action or response needed. All investment plans assume a market crash/boom tomorrow if you recall our discussions.
Secure your risk with bonds and then invest in stocks and hope for the best. In other words, major market moves should not impact your investment strategy at all, even if psychologically it feels you should. Unless someone had a crystal ball there is nothing you can do. The market might be back to normal next week, or in 2 months, or skyrocket in 2 months, or plummet every week for the next year. Either way you can't do anything because you can't predict what will occur the day/week after. If you read the Bogleheads.org forum right now there are tons of threads on Brexit, might be interesting for you to read those too.
But yeah, nothing you can do.
International stock mutual funds will be hammered today because of the massive drop in European equities, combined with the currency conversion back to USD mutual funds- down pound sterling and yen vs USD today.
I'll tell u this much, it sucks to be a rich person or financial industry person in the UK right now. Lots of uncertainty. I think all will turn out okay but there will be a lot of bumps in this transition.
Please no Private Messages. Post thread on with the word "Chris" or "GLL" in it if you absolutely need to get my input. Thank you for your understanding.
Both campaigns were fueled by scare tactics and uncertainty. I voted leave because the EU is undemocratic and we favour immigration from Europe because those people happen to be in an exclusive club whereas people from the US and stuff have to meet certain requirements... unfair.
Yes the £ shot down nearly 10% but there was a lot of global uncertainty meaning a lot went down. I think over the next week or so things will be shaky and then once an action plan is devised and things are discussed properly it'll be like nothing ever happened.
I do not have too much experience at all but I leave in Europe, in a country that has ton of immigrants in UK and let me tell you, it will be crazy. There will be tons of repercussions all over the world... Who knows what will happen, but a damn change will be made...
Diversify that portfolio. Physical bullion (gold & silver) will do very well in the next few years. Did anyone else notice while the dow jones took a big shit on friday, gold went up almost $70 an ounce.
I think the EU will eventually fall apart. That being said I think a 20k investment in Swiss franc would be smart for anyone living in Europe. I truly believe though at the end of the day you need multiple strategies to protect your wealth.For example:
1) private lending
2) physical bullion
3) purchasing currencies
4) high risk stock market trades
5) savings bonds
6) real estate investment
7) firearms/ammunition/tangible assets
Well, Brexit turned out to be the fake out of the decade. The stock market went through huge gyrations when Greece was threatened with default, and economically, Greece is just a pimple on Europe.
So, it seemed to me (and a lot of people) that Brexit would be a really big deal. Nope. The fear lasted oh, about a day and a half.
The market has been lulled into complete complacency. The VIX, often called the "Fear index" - is under 12 now - and that is really, really low. Technical indicators show the stock market is nearly as overbought as in 1929 and 2000, two years that ended very badly.
The way the market functions (not a conspiracy, just the way things usually play out) is first all the bears get killed. When there are no bears left, the market kills the bulls. The first part is done, so.... just be careful out there.
For myself, I diversify and mix strategies, using many underlyings and strategies. Check out tastytrade.com - my "go to" source for a lot of investment information - for a completely different point of view on investing. They will improve your financial literacy, plus they call out the bullshit every day - and it's all free. Note: I don't use their affiliated brokerage firm - there are cheaper alternatives.
Whether you are for or against Brexit, please don't make the mistake of thinking this is a couple weeks, days, months or turmoil that will either end in success or failure. Britain is still in the EU and nothing will be certain until it is out of the EU. It all depends on how that happens. If Britain leaves and has to start from scratch as far as trading relationships go, there are going to be issues. All you're seeing now is uncertainty. Someone hears a rumor about how someone is leaning and they tells their friends type shit. One thing that is sure is that the EU is going to need a new financial capital.
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