Schwab's Brexit thoughts

[Danmar]

Drama is great for the media as it gives them something new to talk amount.

It's great for institutions because it causes activity... ie transaction fees.

Not sure how much it matters to me.

There's super low correlation between big historical events and major market moves I think?

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Yes, I would agree. Historical events can certainly increase volatility though. I still think best to simply ignore almost everything of this nature.

 

[Major Tom]

What kind of question is that? I thought I had the most-viewed [-]newsletter[/-] thread on this forum that defined me. I must work harder on that.

Oooooer, now you've upset him

 

[LOL!]

Oooooer, now you've upset him

No worries. My indignation was short-lived -- about as short-lived as the dump from Brexit.

 

[Options]

Bumped this thread after reading this excellent blog" post on lessons learned in the aftermath of all the Brexit hoopla of sound and fury signifying nothing."

Tim Harford — Article — Brexit and the power of wishful thinking

Perhaps the most important lesson is that we spend too much energy trying to foretell the future, and too little trying to be resilient whatever happens.

It’s time for more serious scenario thinking about the UK’s future in Europe. Because scenarios are persuasive stories, they can help us face up to uncomfortable prospects and think clearly about possibilities we would rather ignore. And because scenarios contradict each other, they force us to acknowledge that, in the end, we cannot actually see into the future. As a result, we move from a sterile question to a fertile one — from “What will happen?” to “What will we do if it does?” it does?”