The Vote is In…

Brexit wins 52% to 48%…wow!  I was up until 2:30am watching the reaction in the UK and around the world.  If you are invested in any of the major stock markets, you are getting hammered.  If you own precious metals like gold and silver, you are very happy today…gold is at &1322 per ounce, up almost $60.

However the vote turned out, I totally respected the outcome.  Now, I have to say I am quite happy for the UK and their decision.  By nature, I like a decentralized structure over the opposite.  No one knows in the short run what all will happen, but I am optimistic about the long run for the UK.

One of my friends sent over a 30 page review on the vote.  It pointed out that financial services are the #1 export and are priced at approximately a 35% premium to mainland Europe.  I would suggest to my UK friends that are concerned about the vote to “leave” that your financial services business will be fine…you don’t get that kind of premium unless you are very good at what you do.

Finally, I personally bought a meaningful amount of British Pounds this morning…I believe 100% in the UK and it’s people.

Advertisements

About jimsnailblog

I am passionate about business, especially the Professional Beauty Industry and the Wine business.
This entry was posted in Investing/The Economy and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s