July 1, 2016
By Peter Bower
Brexit turned out to be a cream-puff. Two days of market impact then immediately erased. As we surmised, this just wasn’t an issue for U.S. investors. It really may not have much impact on the rest of Europe. If the EU handles it well and takes some important lessons from it, Brexit may even turn out to be a positive for them.
At the very least it shows the power still in our stock market.
In the meantime, Happy Birthday United States of America. United is the operative word here. It was not always thus. In fact it took a civil war and over a hundred years of institution building to actually realize the meaning of that word. So we shouldn’t be too smug about Europe. A lot of good has come from putting together the European Union; however, it is far from complete. It may never be, but at least the Brexit is a non-event for us. Stay steady, my friends.
The Lonely Bull
