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FTSE has certainly done much better than it has done since the beginning of the year breaking the 6,400 resistance and climbing to new year highs of 6,600 ish. Accompanied by a rise in all major global stock markets.
Sterling is stable but needs time and it will rise once it is realized that leaving the EU was not a disaster as some had perceived and in fact in my opinion is the best thing for Britain in the medium to long term ECONOMICALLY . I say economically because the social impacts are at present unknown. The coming week may not be as bullish as the last and we may see some sideways action or experience some weakness ( might want to take some profits). Having said that, I am on the bullish side and as things stand, I intend on holding my long positions on the FTSE and S&P till the end of the year (unless there is another major upheaval (e.g. a U-TURN on Britain leaving the EU).
I still expect Dow Jones Industrial Average and S&P 500 to make historical highs by the end of the year. On the social front there seems to be a lot of sorrow in Britain at present with large amounts of regret about leaving The European Union. What have we done? kind of thing. For some reason there seems to be fear of a rise in nationalism/racism , although so many of the minorities are indeed British, live, work and pay their taxes here and have the best interest of Britain at heart. I actually never thought about these aspects when voting to leave, It was never on my radar – since I don’t see things in terms of race etc. I judge people on who they are and not anything else – but I can see now that indeed race and nationality can become a social problem and cause of unhappiness in Britain for all the people involved.
It is interesting that even some of the people who voted to leave on the race and nationality grounds are unhappy about Britain leaving the EU too. Today there are protests to get Britain to stay in despite the vote. I have learnt in the last week to never say never – I mean the vote was leave instead of in – and Boris did not become the new Conservative leader – so maybe just maybe Britain will not leave since I think a very large majority now wish to stay part of the EU. With these dominant feelings and concerns hanging over this country, how can any party or politician just carry on and get people on their side and pretend everything is ok? People feel an injustice has been done – as if the wrong verdict has been read based on false evidence. Could Britain still stay? I say it is a possibility. I am not surprised by anything anymore after the events that have taken place since the vote.
On the economic front and for Britain’s stability I feel it is the best thing for Britain to leave as I see major troubles, chaos and economic uncertainty in store for EU in the next few years and I feel we will be safer and more prosperous out of EU … I would still vote leave if there is to be another referendum (which is next to impossible ). But on balance, is prosperity worth having an unhappy nation on the social front? I mean, it is all about happiness at the end of the day …. isn’t it ?… Never say never.
Like your thoughts Andre, Nation is unhappy as you’ve said and in trauma, we simply cannot continue and pretend nothing has changed, I don’t want a racist Britain , it’s ugly and unpleasant. I liked things the way they were or are. Excellent call on footsie and US markets.
V.
Agree, love Britain as it is, with all it’s diversity, at least we always have someone else to blame our unhappiness and problems on. Without the minorities who would we blame ? hahaha {} I agree don’t think the Brexit is final, more volatility to come. Taking profits is good advice. I pray for Britain.
You are a fair person Sir and not a hypocrite. I respect you .Very good prediction for Ftse and Dow
Lets see what transpires coming week. The whole nation needs a holiday. I don’t want to see a racist Britain. I love this country with all the people in it. I voted out because I did not want to be part of some bureaucratic European superstrate dictating what we do.
Thank you for your thoughts
x
I’m so confused by everything now.
Looking forward to the week. Or am I ?
Thanks for the thoughts
Nice article Sir, I think footsie is due for pull back, it’s gotten ahead of itself. I appreciate your fair and balanced opinions. I agree iUK is financially stronger out of Europe but if there is to be reversal of the vote then I’m happy to go along with it.
Fantastic call on the Uk and US market buys.
Please keep up the good work.
I don’t share your enthusiasm for Leave, and I do not believe that the UK will prosper outside of the EU, or be protected should the EU go into meltdown. When Lehman Brothers collapsed how immune where we? Would the collapse of the EU be a lesser event than Lehman? I think that it would be pretty catastrophic for every investor. By instigating Brexit we have further destabilised the EU, in the forthcoming negotiations they are unlikely to thank us for it. I share your concerns about the nasty racism we are now seeing in our country and I lament the unhappiness of our youth, who feel that they have been disenfranchised by the old. I watched a 90 year old man being interviewed, he voted leave to stop immigration. Not in my name. But more than that, for the first time in my life I am concerned about the fallout of an economic collapse, my fear is that right wing groups will step up to fill the vacuum. It feels a little like the 1930s, and we know how that ended … a world wide depression and he rise of Hitler. We are living in interesting times, but not in a good way. Regards.
Fair and balanced
Exciting weeks ahead,, I agree on the nation having opposing feelings of what is the right way to move forward. There certainly is much larger camp than expected who wish to stay. I voted leave but not for racial reasons just economy and sticking it to the establishment.
Superb call on the S&P
Chris
I took profits ftse long on Friday. I voted leave but have doubts now.
The future is uncertain and we shall see what the week and the month brings. Not sure how I’d vote if there is to be another chance to vote. It’s all very confusing, did not expect the social fallout to be so severe. I appreciate your honesty and fairness and as the other poster has said;you are certainly not hypocritical which is refreshing.
kind regards
We have a nation in trauma, I want the gov. to make the moves faster. Are we in or are we out? Uk stocks should fall coming week I think starting Monday, the rise has been over done. I voted to stay in EU. Not based on anything more substantial than ease of travel and doing business. Fair comments made pro and against. I do appreciate your honesty nevertheless//very good prediction on the US.I don’t want a racist Britain either but I do want controlled immigration for everyone’s sake.
Best
Need a holiday from the madness ^ do Europeans still accept British tourists ????
Coming week will be very volatile, a week in politics is a long time as we have seen by the events of last week.
Whatever happens with us in relation to The EU, we should all stick together regardless of race or religion. Very timely call on the S&P Andre.
All the best for Britain and all it’s great people.
Let’s all work together to keep Britain great.