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Brexit


We wake up this morning with a big surprise to most, Britain has voted to leave the European Union (EU). This is an historic event, it's unfolding right before us and if you participate in the stock markets, you are taking part. If we approach this calmly and deliberately now, we can reflect upon this situation in the future with a degree of pride. It is imperative investors understand as much as possible and avoid rushing into any buying or selling.

Here are a few things that will help clarify the situation:

- Not many expected this vote, even those in the UK. At this point there are far more questions than answers.

- There doesn't seem to be much of a plan going forward in London or Brussels on how to proceed. The Germans are more likely to take the lead in the Brexit because they have the most to lose.

- This will take a long time to shake out and other than market volatility, nothing will happen immediately.

- This may trigger another vote in Scotland and perhaps Wales and Northern Ireland?

- It obviously threatens the existence of the rest of the EU, and may lead to worldwide recession. We will know more later.

- This is not all bad, the status quo has been challenged. There will be some buying opportunities but we should not jump into anything until we know more.

-Daryl Eckman


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