The votes have been counted and it's "See EU Later" for the UK. As we wrote two weeks back, Brexit is Freedom, and our view hasn't changed.
Short term, the markets will be volatile. Currencies will rise and fall. To us, this looks like a buying opportunity.
When the Shanghai Composite plummeted back in late August 2015, the Dow fell almost 800 points and oil prices dropped 5.5% in a span of just two days on fears that the world's second largest economy was headed for collapse. But before the end of that week, the markets had made it all back (and then some) while oil ticked higher. It was yesterday's news almost as quickly as it appeared.
Now the pouting pundits of pessimism are once again crying that the sky is falling. It was an overreaction then and we think it's the same thing now.
© First Trust Advisors
