The biggest day of my life

What an incredible feeling.  Waking up on Friday 24 June at dawn to learn that 17m of my fellow countrymen have voted for Brexit.  Never mind my own personal milestones – leaving school, getting married, buying a house etc – history is truly being made today. And it feels terrible.

London has voted over 60% to remain in the EU.  The boroughs of Camden and Islington (not to mention Wandsworth, the City of London etc) have voted 75%.  Oxford and Cambridge – those outposts of London-like life in so many ways – have voted 70%+.  The Scots have voted to remain in.  If you’re educated, you’re in.  If you’re not, you’re dragging us all down with you.

But from an investing perspective, what’s not to like?  My investments have risen in value by a six figure sum overnight.  Provided you measure that sum in pounds, of course. I’d rather not work out my net worth in any other currency right now.

The social media stream predicts FTSE will fall.  I’m not so sure.  What is clear is that if FTSE falls, with the pound itself down ~10%, then it feels like a roaring buy opportunity – especially when so much of FTSE-100 is global business – stretching far beyond even the EU.  Cheaper currency means higher priced assets.  But just in case the panic creates some juicy overreactions I’ve got some limit orders set up.

I have some petrocurrency interest in my old house, which is for sale.  I assume that their budget, in pounds, has just risen by 10% since I went to bed last night.

But if a ‘punishment budget’ is ahead of us then the new chancellor (Gove?  Farage?  The mind boggles) can’t raise much from your average Brexiteer and so us Remainers are likely to be the targets.  If we’re still in the country.


5 Comments on “The biggest day of my life”

  1. Dorf says:

    This took us by surprise. Life will get interesting.

    Like

  2. London Rob says:

    I have to say I was surprised with the out vote, it is certainly going to make life interesting. I bought a bit this morning after the plummet, but lets see what happens – as you say if they start hitting those with reasonable incomes and wealth, they have the ability to move overseas, then who is going to fund the spending?

    I have previously considered moving overseas, I am just not sure where to, but this could well be a tipping point….

    Like

  3. weenie says:

    I don’t regret voting Leave.

    Me and my colleagues are all educated but we voted for Change.

    It’s time people realised that London does not speak on behalf of the rest of GB!

    We live in interesting times.

    Like


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