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I spoke to my friend in England last night. He said he voted go because it felt more and more that the country was "owned and run by the people in Brussels." He's not sure what will happen now, but he's happy that they'll get their country back--and that Cameron's out.
But the press would have you believe it's all about immigration. Immigration may be the main issue for some, but for many it's the huge cost and productivity barrier put in place by the EU elite.
"He's no sure what will happen," but he'a he's glad he got "his country back." Sound like a genius. Doesn't know what will happen-- hasn't a clue but he's darned certain he "got his country back." Guy sounds like an idiot.
Millions of Americans, including me, do not have a 401K. So yesterday's 3% decline is irrelevant to them. The world doesn't have to revolve around Wallstreet, and it probably shouldn't.
I am not concerned about the market. It will do what it does, and I will do what I do. Thankfully, I was shorting US and Asian markets, so yesterday was a break even day. I used the opportunity to sell off a huge number of US stocks that have provided a handsome return for the year. Buy on the dips, and sell high. At least, that is what I hope for when I purchase stocks, ETFs, etc.
Gold, silver, USD and th VIX were other big winners. If you are truly diversified, you can do relatively well in any any market cycle, even when the market is running sideways, or worse.
The markets all over had a great fall yesterday, just like Humpty Dumpty in the English nursery rhyme. We are waking up to the hard fact that the balances in our 401ks are a lot thinner today. Any gains made since the start of the year have basically been wiped out. How nice is that for anyone looking forward to retiring soon? Or anyone else relying on all this? Are you concerned? And most importantly, how will this play out on Nov 9, the day after Election Day? Another major setback or a way out of the mess?
Stocks go up for silly reasons and there are huge sell offs for silly reasons.
The market is rigged but it's the only game left in town.
This is a hurt for pension programs of all kinds and should lead to a very crazy market. Those pension funds are in the markets trying to create the largest return possible. Good luck for a while till this blows by.
Hey, another Brexit thread........maybe we need a few more mods?
Yeah at first I was happy to reduce the gun Islam-mania. But, now we have this
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