Brexit is now a word planted firmly in everyone’s mind. Particularly now that the “retain or leave” poll last Thursday resulted in the UK voting 52% to leave the EU.
So after binge listening to several podcasts over the last 2 days and reading many article I can clearly state the background and immediate result of the decision is pretty much a monumental cluster f@&k. So to spare you I won’t go back over the why and wheres, the how and when as there are hours and hours of print, video and audio material available.
The real question is, what now?
Well, if you are currently part of David Cameron’s support team…you had better start making some career and financial decisions as you more than likely won’t have a job very soon, now that David has made the right decision to resign as UK PM.
For the rest of us it is very much a wait and see exercise. None of the key “leave” players e.g. Boris Johnson, have previously or immediately outlined any plan. This is clearly disturbing, particularly for the stock and investment markets. We all just have to watch and wait to see what is going to happen.
One thing for sure is the market has reacted (and will continue to react) and we will more than likely see some short to medium market volatility.
What does this mean to you and your investments?
Well, unless you need every single dollar you own cashed out tomorrow then we are very much in a watch and monitor pattern. You never know, there just might be some good buying opportunities over the coming days or weeks. The fundamentals for us here in Australia pretty much are situation normal….well other than we have a federal election looming next weekend. #DontForgetToVote
While our markets are affected by global events, mostly our market are local in nature.
If you are concerned, as always, I’m happy to take your call.
If anything really dramatic happens (not sure how more dramatic things can be compared to the Brexit) we’ll be in touch.