Brexit apears to have royally screwed the Markets

Shadowfax

Active member
Joined
May 8, 2013
Messages
3,724
Location
Bucks County PA
My jaw just dropped as I realized I just lost another 3.5% of my savings and retirement fund

I wasn't expecting it to have that effect, but wish my Adviser did.

Sadly, we are meeting later today with the new retirement planning group to create a plan, which obviously needs to be readjusted again now.

Hopefully we all don't get hit harder than this.
 
Yeah, as a side note, Britain also went overnight from being the world's 5th largest economy to being the 6th largest. Due to the £ drop.


Sent from my iPad using Tapatalk
 
My jaw just dropped as I realized I just lost another 3.5% of my savings and retirement fund

I wasn't expecting it to have that effect, but wish my Adviser did.

Sadly, we are meeting later today with the new retirement planning group to create a plan, which obviously needs to be readjusted again now.

Hopefully we all don't get hit harder than this.

Brian,

Hopefully you are back up a little now. Don't panic. A lot of this is knee-jerk and will be gone by next Friday. I am down 1.66% at the moment not counting one large biotech mutual fund I own which won't be priced until close of trading. It is my only mutual fund so all other changes are known immediately.

Offsetting my down stocks are my gold miner ETFs and Silver Wheaton. I made one purchase this morning that is already up 1.24%. I have been on the roller coaster long enough to adopt a philosophy to steep down markets---grin and buy it.

I wish I could say I saw the vote coming and adjusted my portfolio but I did not. Not fully understanding the pros and cons and seeing how close the poles were I expected fear of change to win. Kind of "The Devil we Know" vs "The Devil we Don't" inertia.
 
I miss my buy in. I was talking to someone on the phone and looked up and it was 10:30am! LOL. Oh well. Markets are holding steady at down 380. I'm surprised its not worse. Shouldn't the markets be based on the value of companies and not silly politics? Crazy.
 
I agree. Long term it will make a difference in some stocks - some good and some bad. Things will stabilize short term in a week.
 
The real question is how will this vote affect other countries that are questioning exiting also.

Is this the beginning to the end of the EU? And how does this affect the totally broke countries in the EU when there are fewer countries in the EU to keep them going?
 
And the other question is when do we buy the pound. Long term Great Britain will be stronger. IMO...


The real question is how will this vote affect other countries that are questioning exiting also.

Is this the beginning to the end of the EU? And how does this affect the totally broke countries in the EU when there are fewer countries in the EU to keep them going?
 
The real question is how will this vote affect other countries that are questioning exiting also.

Is this the beginning to the end of the EU? And how does this affect the totally broke countries in the EU when there are fewer countries in the EU to keep them going?

I think Greece put a crack in the EU.
 
attachment.php
 

Attachments

  • UK.jpg
    UK.jpg
    28.5 KB · Views: 78
Back
Top