Brexit Part 2: Independence Day
It's no small irony that a week after the British declared their desire for independence from the European Union that America celebrates its independence from Britain.
Thank you for not panicking out of your financial plans. Indeed, what kind of financial plan would you have built had it been so sensitive to depend on a nonbinding popular vote in a foreign country, that is still free, and deciding whether they will change their treaties over trade with other countries, not even our own?
U.S. stock markets found their feet again within a week. Our investment firms hardly had a chance to buy good companies at a discount when other investors found the same deals--and a week later market commentators are talking about the next big thing to fear. With little on the horizon, Brexit will save their ratings for as long as possible.
The more scary the news, the more people watch. The more people watch, the more money the news source makes, and the cycle repeats.
This month, e-mail readers can read the thoughts of Nick Murray who frames Brexit with a long view. I hope this helps you follow a very British maxim: keep calm and carry on. To request a copy of Nick Murray's July Client's Corner, email email@example.com
240 years have passed since the day a group of courageous leaders signed the Declaration of Independence. That is closer than you might think. In 1776, we used quills to write and doctors used bleeding to heal. What might we be doing in only two or three average lifetimes when America celebrates 500 years of freedom?