Brexit and Financial Markets

Classical Mechanic said:
I started a stocks and shares ISA last year and invested in managed funds but got rid of my UK investments a month ago. My portfolio has been up and down but is now at the highest yield it has been at, mostly due to having a third of my money in an Asian fund. Seems the Nikkei is the only major market bucking the trend.
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I was following the logic of leaving things well enough alone in favour of long-term gain (index trackers, re-balancing only a couple of times a year, etc.) but I should've thought to change that tactic in the run-up to the referendum - whilst I didn't think things would get this bad so quickly, I should've been better prepared. I certainly wasn't expecting the complete lack of political leadership we've seen since Friday morning across the spectrum. Live and learn I guess :mad:
 
Antisocial said:
I was following the logic of leaving things well enough alone in favour of long-term gain (index trackers, re-balancing only a couple of times a year, etc.) but I should've thought to change that tactic in the run-up to the referendum - whilst I didn't think things would get this bad so quickly, I should've been better prepared. I certainly wasn't expecting the complete lack of political leadership we've seen since Friday morning across the spectrum. Live and learn I guess :mad:
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They say just hang in there and don't panic. This is the eye of the storm. Like you say, they advise that these investments are for five or so years to realise the gains anyway. I use Hargreaves Lansdown and they were advising that Brexit wouldn't happen and I was sure it wouldn't right until I got up last Friday morning.
 
Dan said:
Lost that precious A. Now only AA.
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Load of bollocks. No-one gave a shit when the US went AA. Am surprised the ratings agencies still have the faintest bit of credibility left.
Yeah the markets are getting tonked. My Barclays and ITV shares have been mullered since Friday.
It's going to be time to be bold and buy at some point. Is it now, who knows? Wouldn't rely on gold though. Very short term risk-off play imo.
 
Classical Mechanic said:
They say just hang in there and don't panic. This is the eye of the storm. Like you say, they advise that these investments are for five or so years to realise the gains anyway. I use Hargreaves Lansdown and they were advising that Brexit wouldn't happen and I was sure it wouldn't right until I got up last Friday morning.
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Peter Hargreaves has lost £200m+ since Friday. Still worth c£3bn though:(
 
I made a decent call by exchanging my £ for $ a few weeks back... but not sure if I should exchange back now. Can't see it dropping that much further, but who knows?

I think bitcoin might be a nice place to be in the next few months, if you're up for a bit of a gamble...
 
Mozza said:
The BOE already set aside a quater of a trillion, what more do they need?
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Who knows. Liquidity is not good, despite the 250m announced and others unannounced. They can't keep losing 10% a day.
 
Would now be a good or bad time to invest in buy to rent real estate? With a long term view?
 
Oddly for the 2nd full working day after the vote was cast my pension fund has gone up in value again. One fund in particular - the Lindsell Train Global Equity fund - rocketed yesterday. I must add that this is purely by luck than design and I was expecting my pension fund to take a right twatting in the short-term. That said, I see the FTSE is up over 100 points early doors and it wouldn't surprise me if my fund goes down in value as it often does the opposite to how the markets are performing:lol:
 
Jippy said:
Load of bollocks. No-one gave a shit when the US went AA. Am surprised the ratings agencies still have the faintest bit of credibility left.
Yeah the markets are getting tonked. My Barclays and ITV shares have been mullered since Friday.
It's going to be time to be bold and buy at some point. Is it now, who knows? Wouldn't rely on gold though. Very short term risk-off play imo.
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Wasn't that when the US government went into shutdown? And they closed all the national parks.

That was kinda a big deal.
 
So does anyone think that the markets may have bottomed out for the time being now in light of the early positive showing with the FTSE? I'm not convinced yet. I do wonder whether the slump was made worse due to key members of our government going AWOL in the immediate aftermath of the result on Friday morning and now that they've actually shown their faces that could have had a bit of a calming effect on the markets.
 
Classical Mechanic said:
Wasn't he a Brexiteer?

Do you reckon to not panic and ride it out?
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He was a massive Brexiteer, pumping loads into the campaign, but he's lost over £200m+ as Hargreaves Lansdown shares got caned in the sell-off. He still owns around a third of it.

Things looking a bit healthier today. My bloody Barclays shares are going up rather than flying down for once.
rcoobc said:
Wasn't that when the US government went into shutdown? And they closed all the national parks.

That was kinda a big deal.
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Just a bit of brinksmanship, the US loves to engage in periodically.
 
M18CTID said:
So does anyone think that the markets may have bottomed out for the time being now in light of the early positive showing with the FTSE? I'm not convinced yet. I do wonder whether the slump was made worse due to key members of our government going AWOL in the immediate aftermath of the result on Friday morning and now that they've actually shown their faces that could have had a bit of a calming effect on the markets.
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I think more likely is what @McLovin mentioned above.
 
M18CTID said:
So does anyone think that the markets may have bottomed out for the time being now in light of the early positive showing with the FTSE? I'm not convinced yet. I do wonder whether the slump was made worse due to key members of our government going AWOL in the immediate aftermath of the result on Friday morning and now that they've actually shown their faces that could have had a bit of a calming effect on the markets.
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I think you'd need to consider that on a sector by sector basis. Some may have bottomed out but I wouldn't say the market has. It'll continue to react to every bit of news that comes out over the next few days.

Since we decided to pull out of a home purchase I've got a lot of spare cash that I'm considering making use of right now.

I think any good news from EU discussions will see a brief rally in the banking stocks
 
Jippy said:
He was a massive Brexiteer, pumping loads into the campaign, but he's lost over £200m+ as Hargreaves Lansdown shares got caned in the sell-off. He still owns around a third of it.

Things looking a bit healthier today. My bloody Barclays shares are going up rather than flying down for once.

Just a bit of brinksmanship, the US loves to engage in periodically.
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Tired to pick some up this morning but had to use H&L's 'fill or kill' facility as I am not around when the markets open, missed out, should have put my upper limit a little higher I think.
 
adexkola said:
No point looking at your retirement portfolio now. Especially if retirement is years out.

That's what I keep telling myself.
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The way I see it, is that any units you buy when the prices are low have a bigger upside, so it sort of works in your favour. It's years away anyway, I might be dead by then :D
 
Pound gone up by 2 points today..

Just looking over the history of £ to the $. It was at one stage steadily at 2.8 :eek:, then had a massive drop to 2.4, in 1971. Does anyone know what this was? was it the due the U.K applying to enter the EU? Also 1986, it was 1:1 at that stage.
 
starman said:
Pound gone up by 2 points today..

Just looking over the history of £ to the $. It was at one stage steadily at 2.8 :eek:, then had a massive drop to 2.4, in 1971. Does anyone know what this was? was it the due the U.K applying to enter the EU? Also 1986, it was 1:1 at that stage.
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:lol:We joined the EEC, as it was, in 1973, so not sure we can pin that fall on them!
 
starman said:
Pound gone up by 2 points today..

Just looking over the history of £ to the $. It was at one stage steadily at 2.8 :eek:, then had a massive drop to 2.4, in 1971. Does anyone know what this was? was it the due the U.K applying to enter the EU? Also 1986, it was 1:1 at that stage.
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Decimalisation perhaps?
 
Jippy said:
:lol:We joined the EEC, as it was, in 1973, so not sure we can pin that fall on them!
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Not trying to pin it on them, just wondering why the sudden drastic drop, uncertainty etc. Was way before my time.. ;)

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The pound was fixed at around 5$ in the 1920s, until Britain was forced to abandon the gold standard in 1931, which led to a sharp devaluation in sterling. The pound has been slowly drifting downwards against the dollar over the course of the last century. It's an indicator or symbol of Britain's relative decline, I suppose.
 
The US devalued the dollar in 1971, and it sunk in across the world that currencies weren't fixed any more. In the sixties lots of commonwealth and former empire countries had held currency reserves in sterling for historical reasons, they always had done, but with the prospect of floating currencies many thought it prudent to ditch the pounds and hold dollars instead.
 
starman said:
Pound gone up by 2 points today..

Just looking over the history of £ to the $. It was at one stage steadily at 2.8 :eek:, then had a massive drop to 2.4, in 1971. Does anyone know what this was? was it the due the U.K applying to enter the EU? Also 1986, it was 1:1 at that stage.
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The Uk devalued the pound in November 1967 from $2.80 to $2.40 as the Uk economy was in trouble
 
starman said:
Pound gone up by 2 points today..

Just looking over the history of £ to the $. It was at one stage steadily at 2.8 :eek:, then had a massive drop to 2.4, in 1971. Does anyone know what this was? was it the due the U.K applying to enter the EU? Also 1986, it was 1:1 at that stage.
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I think Bretton Woods was* 1969 or 1971.

Edit: ended in
 
Little bit of respite today thank christ. Made some good trades in the likes of grafton and made people happy.

Ryanair starting to look like an outrageous steal too.

My portfolio in our firm is still down 35m+ since Thursday tho. Gonna be hairy when dust settles. Hope they just have a second ref... and do it in a week. Preferably coinciding with brookside. (still a show??)
 
Jippy said:
Surely that say more about the credit rating agencies?
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Possibly..I can't say I place a great amount of trust in them. But Brexit has been catastrophic so far from a far-reaching perspective, so at least in the immediate short term I can see why the above statement would be true.
 
FTSE 100 up over 100 points early doors. Hopefully a second day of gains will be on the horizon.

As I predicted, my pension fund fell slightly yesterday despite big gains on the stock exchange lol
 
This recent pull up is going to get smashed back down I reckon in an ugly way.
 
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