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UK leaving EU, buying opportunities ?
Old 06-24-2016, 06:56 AM   #1
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UK leaving EU, buying opportunities ?

Might be time to loosen the old purse strings and look for some deals.
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Old 06-24-2016, 07:19 AM   #2
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Definitely time to buy.
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Old 06-24-2016, 07:31 AM   #3
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I know a few board members, including myself have some trips to England coming up is anyone considering getting some British pounds, it was bouncing around in the 1.30 area for a time last night.

I go in November and am wondering if I should just get some pounds from my bank.
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Old 06-24-2016, 07:36 AM   #4
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I know a few board members, including myself have some trips to England coming up is anyone considering getting some British pounds, it was bouncing around in the 1.30 area for a time last night.

I go in November and am wondering if I should just get some pounds from my bank.
Once you have the pounds, do you just put them in a mattress and hope they go up in value? Is there a transaction fee? How much is the percentage to get in and out of physical currency? It seems like you would have to buy a LOT to make up for the transaction fee(s).

Or is it better to just buy foreign currency on the stock exchanges? Or a British ETF? Or just a S&P ETF?
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Old 06-24-2016, 07:48 AM   #5
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Once you have the pounds, do you just put them in a mattress and hope they go up in value? Is there a transaction fee? How much is the percentage to get in and out of physical currency? It seems like you would have to buy a LOT to make up for the transaction fee(s).

Or is it better to just buy foreign currency on the stock exchanges? Or a British ETF? Or just a S&P ETF?
These pounds would be spent in England...it would only be enough for personal vacation use. I usually just ATM it but was thinking around getting them from my bank.
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Old 06-24-2016, 07:59 AM   #6
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These pounds would be spent in England...it would only be enough for personal vacation use. I usually just ATM it but was thinking around getting them from my bank.
It will cost you an additional 5 to 6%.
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Old 06-24-2016, 08:03 AM   #7
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Never mind the currency, what about equities?
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Old 06-24-2016, 08:05 AM   #8
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It will cost you an additional 5 to 6%.
I know, I wonder if it would be worth it, the pound was at a 32 year low last night. At 1.30 it would cost me around 1.37...that seems pretty reasonable and also eliminates some hassle such as ATM foul-ups, chip and pin mistakes and such.
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Old 06-24-2016, 08:06 AM   #9
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Never mind the currency, what about equities?
Might be a good dip. Not sure it will be as good of a dip as we got at the beginning of the year though.
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Old 06-24-2016, 09:57 AM   #10
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We don't even know for sure whether the UK *will* leave the EU. This was a non-binding advisory vote, though it does put some pressure on Parliament. The uncertainty may produce more buying opportunities than the actual event itself would.
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Old 06-24-2016, 10:12 AM   #11
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Might be a good dip. Not sure it will be as good of a dip as we got at the beginning of the year though.
Financial services and housing in the UK is getting a good clobbering.

Double digit drops there, up to 30% in GBP.
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Old 06-24-2016, 10:29 AM   #12
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Financial services and housing in the UK is getting a good clobbering.

Double digit drops there, up to 30% in GBP.
I recall watching the Rob Arnott video a few weeks ago and him mentioning that UK PE values were very low with astounding expected returns (~8%). I guess the market did price some of the risk in and now it showed up.

Rob Arnott lecture on future returns and methodology
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Old 06-24-2016, 10:45 AM   #13
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Yesterday : Boy, I'm a genious for being so heavily allocated to foreign (about 45%)


This morning : Boy, I really shouldn't be so heavily invested in foreign, what am I thinking


The last hour : Oh look, there is a bit of spare cash in one of my accounts, lets buy some more foreign (VSS).
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Old 06-24-2016, 10:47 AM   #14
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Think I'll spend my cash on a UK golf trip
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Old 06-24-2016, 11:42 AM   #15
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I bought some VSS and VEA. Nothing life changing. Not super worried or excited. I think this is more hooplah than substance at this point. Of course... could be start of a bigger change which I also can't control so...

I guess onward

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Old 06-24-2016, 11:49 AM   #16
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Put a few buy orders in this morn, with limits. But the sale/corrections wasn't as deep as the press noise would lead one to believe. Doubt if any will be executed today. Revisit next week
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Old 06-24-2016, 11:57 AM   #17
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I think its a very good time to buy overseas securities if you can stomach a rocky road. European indexes got pounded in absolute terms and the dollar strengthened so your purchasing power went up. (Of course, existing holding also got spanked extra hard as well.)

I think it will be bumpy but these things are usually overdone in the near term. Of course, the next time Greece, Spain or someone else wobbles there will be completely hyperventilating that the EU/Euro is about implode.

Still, I intend to go shopping.
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Old 06-24-2016, 12:25 PM   #18
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I just put in an order to clean out my MM account and buy international... unfortunately not a lot of $$$$ as I rebalanced recently but I know a sale when I see one.
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Old 06-24-2016, 12:27 PM   #19
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Never mind pounds; what about euros? Everything EU must be taking a hit, or about to.
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Old 06-24-2016, 12:39 PM   #20
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Yesterday : Boy, I'm a genious for being so heavily allocated to foreign (about 45%)


This morning : Boy, I really shouldn't be so heavily invested in foreign, what am I thinking


The last hour : Oh look, there is a bit of spare cash in one of my accounts, lets buy some more foreign (VSS).

+1

I have an even split between US and International equities. I haven't done poorly, but I would have done much better if I held less international. But I know the minute I change my allocation, the US would start lagging. So I guess it's time to buy some more International.
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