Brexit

[Matt]

None of you seem too familiar with trading or the markets. I did some light bargain hunting today on TD Ameritrade. I'm keeping an eye for the next week too. Specifically Monday and some more EU reactions and some possible emergency referendum talks.

The market will bounce back. Investors are overreacting (something many have admitted throughout the day). Not to mention there is just at a $4 - $8 dollar drop on major stocks. We've seen worst when it comes to individual indexes.

This is a great day all around. Loving it.

Anyone who is panic selling will regret that decision. I guarantee it.

You realize you are only supposed to buy at a time like this one the market bottoms out, which probably hasn't happened yet...especially with European stocks. You are going to lose a lot of money if you are buying recklessly.

This part is accurate. The market always swings wildly on just economic fears alone. Its volatile. But it will correct itself. Just in time for Germany and other countries to jump ship on the EU. Rinse, repeat...

Buy low, folks. Buy low.

Yeah, but you don't buy until the market bottoms out and starts to stabilize. Otherwise you are buying as it will continue to drop and probably losing money in the process.

Case in point.

You only buy low when the selling has stopped. That hasn't happened yet. Buying in the past 48 hours is a stupid, stupid move.

 

[Matt]

I really cannot stress this enough as I really hope SHH members are not reading some of what is being said in this thread and logging onto Ameritrade, Scottrade, etc. Please heed this advice:

Do not buy right now. Wait til the market bottoms out and selling stops (or close to that period). How do you know when that is coming? You don't. That is why you should be paying someone to do your investing for you. They know how to read the market. Self-investing is a bad, bad, bad move at a time like this. Because while there seems to be ample opportunity, if selling continues (and it probably will for the next few days) you will lose your investment. You should always let a professional handle your investments, but at a time like this, when there is economic crisis, that is doubly true.

 

[chamber-music]

The many comments I'm seeing are disturbing on the daily mail website. There's talk of the French letting illegal immigrants enter into the UK without attempting to stop them, and idiots here are saying they should actually blow up the channel tunnel and use live rounds to exterminate them... This is what the mentality of the U.K. is becoming now?

People always thought like that but now they feel empowered to air their violent xenophobic views as it has been validated in their eyes by the leave campaign.

There are plenty more nationalist nutcases like the ones that killed Jo Cox out there.

The mayor of Calais has said they will rethink letting British border agencies deal with migrants at the port town due to us leaving the EU.

People who voted to keep refugees, migrants and illegal immigrants out are in for a shock. Even if you leave the EU you still have to deal with them which is something some people did not take into account.

Yep...but honestly, I really think this will be a blip on the radar. I think a lot of people are overestimating the long term impact of the Brexit. I think the US market will bounce back relatively quickly (the DOW was already starting to trend up at close yesterday). European economies will take hits, but I tink it will even out also. And frankly, I think within the next ten years, the UK will probably rejoin the EU.

I'm sure some in the EU would not want the UK back while others would welcome us back.

At the moment most of the EU wants us gone as quickly as possible and to punish the UK for voting to leave.

They will not want the UK to be successful outside the EU because it might give other countries ideas about leaving.

It amazes me how stunningly uninformed and brainwashed by the media and government a lot of Brits are. I've spend the last 10h or so reading stuff from people, especially the Brits and EU citizens working in the UK.

The media has been spoon feeding the British public BS about the EU for nearly 40 years and large sections of the British public ate it up with a spoon.

The Daily Mail blamed the EU and Immigrants for every thing you can a imagine everyday for years.

If there actually fair and balanced reporting on Europe the British public's attitude would be a lot different.

 

[Kelly]

They voted in the scottish referendum because the snp thought they would swing the vote.

They are children still in education or training. Should we let 4 year olds vote? It will effect their lives even longer. No. We let the adults decide.

That is a ridiculous question...and weakens your argument considerably.

The 16 year old students in my classes are FAR MORE educated on what is happening in the world, than most adults I know, including many on this very forum, so to say that they should not vote because they are still receiving education is silly. I would much rather someone educated in the global arena at 16+ voting, far more than I would the guy that hasn't picked up a newspaper, read about global politics on the internet or even watched their local news because they are too busy watching "Duck Dynasty" or "Housewives of Cheshire".

Here is where you miss the point...you SHOULD NEVER stop learning, but some have. You should ALWAYS have an eye on the future, but too many are too busy looking to the past and their lost fights and glory days they had before but are long gone.

 

[Matt]

I'm sure some in the EU would not want the UK back while others would welcome us back.

At the moment most of the EU wants us gone as quickly as possible and to punish the UK for voting to leave.

They will not want the UK to be successful outside the EU because it might give other countries ideas about leaving.

I think the EU is in a very complex position. They want to do enough to keep the UK from succeeding but they also don't want to irreparably damage the UK, because, the fact is, it was one of their strongest pillars. The long term goal, no matter how much bitterness exists, is to bring the UK back into the fold. You don't want to turn them into dead weight prior to that.

Random aside, I do love the irony of the national sovereignty argument when it comes to the UK leaving the EU. Considering that the UK is basically the last empire on the planet, its odd to see them preaching about national sovereignty. Granted, they are an empire in name only these days, but never the less...its a funny thought.

 

[Lilbaz]

It amazes me how stunningly uninformed and brainwashed by the media and government a lot of Brits are. I've spend the last 10h or so reading stuff from people, especially the Brits and EU citizens working in the UK.

Do the Brits not realize how much of their economy is funded by the EU? Especially fields like Science & Research who get virtually nothing from their own government and are simply running on EU funding. A lot of them are already looking into potentially going somewhere else because without those fundings they will be out of a job. And since quite a few of them are EU citizens, not Brits, once the UK are out of the EU it will be too expensive for them there. Good for the rest of the world who I'm sure would gladly take those scientists. Plus then they will have less problems with racism (which makes quite a few of them feel unwelcome anyway). Win/win for everyone, except the UK I guess.

You do realise that we are one of 4 countries that were net contributers to the eu? Meaning we paid more in than we got out?

Maybe you should look at yourself as being uninformed.

 

[Spider-Aziz]

I really cannot stress this enough as I really hope SHH members are not reading some of what is being said in this thread and logging onto Ameritrade, Scottrade, etc. Please heed this advice:

Do not buy right now. Wait til the market bottoms out and selling stops (or close to that period). How do you know when that is coming? You don't. That is why you should be paying someone to do your investing for you. They know how to read the market. Self-investing is a bad, bad, bad move at a time like this. Because while there seems to be ample opportunity, if selling continues (and it probably will for the next few days) you will lose your investment. You should always let a professional handle your investments, but at a time like this, when there is economic crisis, that is doubly true.

Thanks for the advice.
I know I (personally speaking) will lose money if I tried to invest now, being terrible at reading the market.

 

[Kahran Ramsus]

It will be very interesting to see what France does next spring in their presidential election. If France ends up on the path of leaving, the EU is dead. It won't survive a French exit.

 

[Kahran Ramsus]

Random aside, I do love the irony of the national sovereignty argument when it comes to the UK leaving the EU. Considering that the UK is basically the last empire on the planet, its odd to see them preaching about national sovereignty. Granted, they are an empire in name only these days, but never the less...its a funny thought.

The Dutch Empire is in a similar situation.

 

[terry78]

Trump says America is next. Whatever that means.

 

[Kelly]

I assume he is talking about NAFTA, NATO, and probably the G8.

 

[Shadow Moses]

You would think it's the 1929 great depressing based on some of the drama queens in this thread. The EU & UK still need each other and they will make everything work. There will be no mass exodus of companies or some magical drop in UK's GDP or fall in £. Everything will stabilise.

 

[MessiahDecoy123]

You would think it's the 1929 great depressing based on some of the drama queens in this thread. The EU & UK still need each other and they will make everything work. There will be no mass exodus of companies or some magical drop in UK's GDP or fall in £. Everything will stabilise.

It's okay to panic when 4% of your population is Muslim and you have one of the strongest economies in the world to make sweeping changes...

But not be worried when the British pound drops to historic lows?

 

[Pink Ranger]

I really cannot stress this enough as I really hope SHH members are not reading some of what is being said in this thread and logging onto Ameritrade, Scottrade, etc. Please heed this advice:

Do not buy right now. Wait til the market bottoms out and selling stops (or close to that period). How do you know when that is coming? You don't. That is why you should be paying someone to do your investing for you. They know how to read the market. Self-investing is a bad, bad, bad move at a time like this. Because while there seems to be ample opportunity, if selling continues (and it probably will for the next few days) you will lose your investment. You should always let a professional handle your investments, but at a time like this, when there is economic crisis, that is doubly true.

Listen to this man: he was right about selling Time Warner stock on March 24, 2016.

 

[Dr. Evil]

The Dutch Empire is in a similar situation.

Pretty much. The days of colonial empires are gone. All the Dutch have left is basically the former Netherlands Antilles and those countries are probably more closely aligned culturally to their neighbors in the Caribbean rather than the Netherlands.

 

[BestGirl]

51% is not enough for a change like this. This is they type of referendum that needed a minimum 66% of the population in agreement to pass. Why it wasn't set up like that is beyond me. This issue won't go away with the country that evenly divided and with that big a disparity between the young and the old voters. With all do respect to the older generation they are not the ones who are going to have to live with this decision.

I would say 60% but I agree a slim majority should not have been allowed to determine a country's future this way. It was a poorly planned referendum.

 

[Dr. Evil]

It will be very interesting to see what France does next spring in their presidential election. If France ends up on the path of leaving, the EU is dead. It won't survive a French exit.

The French President could be possible Trump BFF Marine LePen.

 

[chamber-music]

I think the EU is in a very complex position. They want to do enough to keep the UK from succeeding but they also don't want to irreparably damage the UK, because, the fact is, it was one of their strongest pillars. The long term goal, no matter how much bitterness exists, is to bring the UK back into the fold. You don't want to turn them into dead weight prior to that.

Random aside, I do love the irony of the national sovereignty argument when it comes to the UK leaving the EU. Considering that the UK is basically the last empire on the planet, its odd to see them preaching about national sovereignty. Granted, they are an empire in name only these days, but never the less...its a funny thought.

The UK doesn't have an empire. Places like Gibraltar are pretty much like American Samoa is to the U.S.

Putin still thinks he controls the former Soviet Union countries and acts like they belong to a Russian Empire.

Some people are incredibly pedantic about where the seat of government is located in the UK. We legitimately have people that are angry that the UK parliament is located in London instead of the geographical center of the country.

 

[Matt]

Listen to this man: he was right about selling Time Warner stock on March 24, 2016.

I don't recall ever advising a sale in Time Warner stock. Now if JL bombs (or BvS level under-performs), I'd probably move my stock in the company as it signals a very rough time ahead for Warners Bros., which has potential to become a dead weight subsidiary that Time Warner needs to bail out (which would not be inexpensive). And they'd really have no future plan post-bail out aside from begging JK Rowling to let them make Harry Potter 9 (or reboot the series).

That said, Time Warner is down nearly $20 per share from last year, so moving it may not have been a bad call.

The UK doesn't have an empire. Places like Gibraltar are pretty much like American Samoa is to the U.S.

Putin still thinks he controls the former Soviet Union countries and acts like they belong to a Russian Empire.

Some people are incredibly pedantic about where the seat of government is located in the UK. We legitimately have people that are angry that the UK parliament is located in London instead of the geographical center of the country.

Well obviously they are an empire in name only (which I pointed out).

 

[Pink Ranger]

I don't recall ever advising a sale in Time Warner stock. Now if JL bombs (or BvS level under-performs), I'd probably move my stock in the company as it signals a very rough time ahead for Warners Bros., which has potential to become a dead weight subsidiary that Time Warner needs to bail out (which would not be inexpensive). And they'd really have no future plan post-bail out aside from begging JK Rowling to let them make Harry Potter 9 (or reboot the series).

That said, Time Warner is down nearly $20 per share from last year, so moving it may not have been a bad call.

You may not remember because it hasn't happened yet. I fell asleep at my desk at work, and your head came out of a magic portal screaming at me to short Time Warner. I knew what you meant, but other people who were watching us who don't really follow finance got confused, and eventually just walked out of the room in frustration.

 

[Lord Valumart]

Spent a large portion of today explaining to a guy at work why being out of the EU was a bad thing. Basically I had to boil it down to "Lego will be more expensive". I hate people...

 

[Zur-en-Arrh]

You may not remember because it hasn't happened yet. I fell asleep at my desk at work, and your head came out of a magic portal screaming at me to short Time Warner. I knew what you meant, but other people who were watching us who don't really follow finance got confused, and eventually just walked out of the room in frustration.

pink ranger! listen to me now! sell high? did you sell high? it was brexit! you were right about the euro! you were always right!

 

[Pink Ranger]

pink ranger! listen to me now! sell high? did you sell high? it was brexit! you were right about the euro! you were always right!

 

[terry78]

This feels like a precursor to Civil War.

And that is my final attempt at levity on the topic.

 

[Pink Ranger]

The next year or so won't be a picnic, but something will happen. A new prime minister, a pro-EU one but not an idiot poser like Cameron, will come in, and be part of a "renewal" negotiation with the EU. They will pull together an agreement to keep the UK in the EU with a few additional concessions. The pro-EU side will claim victory, and the moderate Brexit side will as well. The anarchists and fascists on the fringe will complain, but nobody will care.