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Brexit fall out

Discussion in 'The Main Board' started by Atlas, Jun 29, 2016.

  1. Atlas

    Atlas Administrator Staff Member Survival Class Instructor

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    I've gotten emails like these from the couple of investment firms I use, I thought I would share.

    I wonder what they thought would happen, because it's working out like I thought it would. It makes me wonder if the whole thing isn't just the mother of all manipulations, but that's tin foil hat territory.

    Either way, I was happy to pick off such an easy play on the forex. Selling the pound the night of the vote made lots of people lots of money that night. I made about 20% profit myself and I am just a hobbyist. I'm sure others did quite a bit better.
     
  2. Atlas

    Atlas Administrator Staff Member Survival Class Instructor

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    European Market Breaks: Stoxx 50, Stoxx 600 Have Not Calculated Prices For Nearly An Hour

    [​IMG]
    by Tyler Durden
    Jul 6, 2016 10:11 AM
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    With European stocks tumbling, it was only a matter of time before someone pulled the biggest circuit breaker of all, i.e., the plug. And sure enough:

    • EUREX SAYS IT DOESN’T CURRENTLY HAVE STOXX UNDERLYING PRICES
    • EURO STOXX 50 AND STOXX 600 HAVE NOT CALCULATED FOR 50+ MINS
    • DEUTSCHE BOERSE SPOKESWOMAN CONFIRMS STOXX 600 NOT CALCULATING
    And from the exchange:



    Emergency Information Failure STOXX underlying feed



    Due to technical problems with the price data feed, the Eurex system does not currently have STOXX underlying prices. Please do not hesitate to call Market Supervision for any questions you may have. Aufgrund technischer Probleme beim STOXX Preisdatenstrom werden derzeit die Basiswertpreise nicht aktualisiert. Sollten Sie Fragen haben, wenden Sie sich bitte an Market Supervision.
    Market Supervision +496921111210

    We expect the exchange to promptly fix itself just as soon as a bid reappears, because for now futures are fading fast...


    [​IMG]
     
  3. grumpy

    grumpy Active Member

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    My employer was in a unique position and benefited tremendously from the Brexit.

    Without sharing too much, a large portion of our revenue is selling European goods and services to Americans. So post-Brexit anything we sold marked in GBP or EURO was on discount.
     
  4. Atlas

    Atlas Administrator Staff Member Survival Class Instructor

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    I bet. Anyone who was buying in GBP and selling in USD made better money, and it's still continuing on now.

    That's something to think about...
     
  5. grumpy

    grumpy Active Member

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    There's an old Warren Buffet quote:


    “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”

    to be practical, I take that to mean keep some liquid cash for a spontaneous fire sale. Imagine if all your neighbors were having massive yard/garage sales following a currency collapse. If you were the one dude with gold/silver or whatever the desired currency was, you could make out like a bandit.

    Don't be afraid to buy some stocks following a major crash. Often the momentum is furthered by emotion, not math.
     
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  6. Atlas

    Atlas Administrator Staff Member Survival Class Instructor

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    Buy low, sell hi. That's the only way and it goes for everything.
     
  7. Atlas

    Atlas Administrator Staff Member Survival Class Instructor

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  8. lonewolf

    lonewolf Well-Known Member

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    No deal Brexit was always on the cards, the EU WILL NOT negotiate they expect the UK to compromise all the time but they do nothing. we will leave the EU at 11pm on 29th march 2019 and trade on World Trade Organisation terms which is what we should have done in the first place 2 years ago, we are done talking to those unelected gangsters in Brussels.
     
  9. Atlas

    Atlas Administrator Staff Member Survival Class Instructor

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    I agree, it may be a tough road. I don't see that being a bad thing long term and it will probably make the country stronger.
     
  10. lonewolf

    lonewolf Well-Known Member

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    at least we will be our own masters and can hire and fire MP's every 4 or 5 years which is more than we can do about many in Brussels(I don't mean the MEP's but people like Junker and Tusk), make our own laws and not have to apply stupid directives from Europe about things like Light Bulbs and carpet sweepers, you wouldn't believe some of the stuff they come up with.
    the main thing is we cut out the European Court and our own courts are the deciding ones, we also can say who comes in and who dosent, which is something we couldn't do with the EU free movement rules.
     
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