Brexit
Freaking out about the Brexit? Keep calm and carry on. Investors should control what they can control. Events like the referendum vote or the upcoming US Presidential election fall outside of that realm. Today’s market tantrum is not in reaction to any fundamental change. It is an emotional reaction to the unexpected. Consensus expert opinion (and bookmaker odds) are suddenly fallible, a revelation to our self-appointed betters (and bettors) who predict doom at every turn. When I went to bed last night around 1am, futures indicated a 700 point drop in the Dow Jones Industrial Average, or almost 4%. Why was I awake at 1am? I was fascinated that right along with my favorite personalities on Twitter, former child-star Lindsay Lohan was live tweeting the referendum results. This was a strong indicator of the level of hyperbole I expected today. I was not disappointed. So let’s get the madness out…
