With the June 23, 2016, referendum, UK voters did in fact choose to “Leave” rather than “Remain.”
How has this affected North American stock markets?
The Dow Jones Industrial Average dropped 5.1% after the Brexit vote, but is now down just 0.6%. Our Toronto market fell 3.8%. However, it’s now down only 0.4% from its pre-Brexit level.
I’ll be saying more in the next few weeks, months and beyond about Brexit and the EU. But let me sum up my view by saying that some unexpected market developments can seem to set off dreadful market downturns that last for years. One great example is the surprise announcement of the Lehman Brothers bankruptcy filing in September 2008. For a while, some commentators incorrectly blamed Lehman for bringing on the 2008/2009 stock market plunge and accompanying recession.
In fact, Lehman’s failure was just a symptom of a credit market situation that was coming apart at that time, after building for years if not decades.
However, rather than usher in deep declines, unexpected negative market developments are far more likely to create buying opportunities. I suspect that’s how the Brexit news has turned out, though it will be months before volatility dies down.
All in all, now is a good time to invest in the high-quality stocks, REITs and ETFs we recommend in Canadian Wealth Advisor.
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
The privacy of the site/store visitor is very important to TSI Network, and is respected at all times. The information we receive from customers helps us to personalize and continually improve your online experience at TSI Network.
We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
We store subscriber and password files containing personal information securely. These files are stored in secure areas that are not accessible to the general public. We are always working to ensure the security of your personal information.
We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
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Does TSI Network Use the Information It Receives?
"Contact Us" and Comment Features: TSI Network encourages visitors to its websites to contact us with questions and comments. Email addresses and other information of persons using these features may be collected in order to facilitate our responses to those inquiries.
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