In or Out...?

[Shoppinit]

And I have no doubt we will regret.

[doodlebug]

And I have no doubt we will regret.

I concur.

[R4llye]

Like said earlier, being selfish... more instability, more rule changes, more bank it work... more income hopefully and that's it...

Isn't instability a double headed coin?

As easy as it could result in more work, it could also find you out of work?

[Shoppinit]

Yeah, it comes up tails every time.

[mikep99]

I've been contracting for years so understand what you're saying. The more recent contracts I've worked on have been bank merges / splits (brought on by regulations) so any changes, less or more or different regs results in work. It affects everyone differently so can understand everyone's views...

[Shoppinit]

There are always winners in chaos. People who know how to maneuver and get ahead. Sometimes that involves stepping on other people to do so. Plenty of people get rich during wars. I personally will be fine but I still believe that it's a massive mistake and the very people that voted to leave will probably be the ones to suffer the most. IMO.

[bam_bam]

There are always winners in chaos. People who know how to maneuver and get ahead. Sometimes that involves stepping on other people to do so. Plenty of people get rich during wars. I personally will be fine but I still believe that it's a massive mistake and the very people that voted to leave will probably be the ones to suffer the most. IMO.

I see a lot of litigation ahead, companies securing IP and regulatory investigations. Excellent.

The silliness will fall away and it will be a step into the unknown that will take 2-5 years, it's hardly going to be a shock. Smart companies will adapt, smart people will make money, other countries will go through similar fractures. Change is good thing but Shop is right, the average bigot leave voter will be left more confused than an OAP in an Apple store. They have no idea what's about to happen.

[Surrey Sam]

Some European market shares are being hit harder than the UK right now.

Considering how Scotland voted, I also think Scotland should be given another referendum on independence.

[PSB1]

Completely disagree! The biggest player in regulation is the US. That ain't changing. FATCA, SoX, frank-Dodd etc etc etc.

Ah Sox - put many a car on my drive!

[Ian_C]

Not what I was hoping for this morning.

"Banks were hard hit, with Barclays and RBS opened about 30% down

The FTSE's slump was its biggest one-day fall since the collapse of Lehman Brothers in October 2008.

As well as the banks, the housebuilding sector was also badly hit, with shares in Bovis Homes down more than 50%."

[PSB1]

This is what worries me. It's a golden opportunity for Paris and Frankfurt to destroy London as the financial centre of Europe once and for all.

http://www.ibtimes.co.uk/eu-referendum- ... ec-1546835

"A Brexit would have a drastic impact on Britain's banking sector, which is already under pressure from several angles and could face losing access to European markets.

"A major concern is the threat of loss of access to European markets, something which is currently permitted via passporting rights," said Wyn-Evans

"It is probable that banks would have to apply for new licences to operate on the continent, which would reduce the attraction for international banks to base their European operations in London. Any reduction in banking activity would have severe knock-on effects for London – both the economy and the real estate market."

[FaisalJ]

Some European market shares are being hit harder than the UK right now.

Considering how Scotland voted, I also think Scotland should be given another referendum on independence.

Yep, Eurostoxx50 is down more than the FTSE at the moment. Worst performing market is actually Spain. US looks like it'll open 3% to 4% down.

World Equity Index Futures:

Sturgeon has said another referendum for Scotland is on the cards.

[FaisalJ]

On a call with some economists and former BoE governor Mervyn King; expected 3 to 4% impact to UK GDP over the next 3 years, UK credit rating likely to be downgraded, fall in UK investment, prolonged period of uncertainty and poor economic performance for the UK and Europe.

Awesome.

Thought these charts tell the story of who voted for more hardship:

To the point about some people making money in volatile times. My trading account is up today (long volatility), but I'm not celebrating. Some people made a killing in 2008. But the majority will suffer in times where business and consumer confidence is low, financial services and manufacturers are struggling, and we need more austerity to plug the hole left behind.

Sad times

[Ian_C]

Was chatting about this with my father earlier. He's retired now but used to work for one of the big four banks. He was too busy this morning to follow the market, but some shares 15 mins after the markets had opened (and fallen) might have been worth a punt.....

He said years and years ago his then-boss bought invested a years salary into Rolls Royce when they went bust (1970 or 1971?) and the share price went from 46 shillings to 1 shilling. The government then bailed them out. Speculate to accumulate....

[bam_bam]

On a call with some economists and former BoE governor Mervyn King; expected 3 to 4% impact to UK GDP over the next 3 years, UK credit rating likely to be downgraded, fall in UK investment, prolonged period of uncertainty and poor economic performance for the UK and Europe.

Awesome.

Thought these charts tell the story of who voted for more hardship:

Referendum Charts.JPG

To the point about some people making money in volatile times. My trading account is up today (long volatility), but I'm not celebrating. Some people made a killing in 2008. But the majority will suffer in times where business and consumer confidence is low, financial services and manufacturers are struggling, and we need more austerity to plug the hole left behind.

Sad times

Day one.