Midsummer proved to be a bit different this time around. UK voted in favour of the brexit which was a bit of a surprise. Personally I expected the result to be around 56% in favour of staying in EU but the people have spoken and now it’s left for the politicians to either implement the decision or find a way to work around it.
These are the type of events that don’t occur very often. They provide plenty of uncertainty and even panic which make them potentially excellent times for net buyers. Personally I started with a purchase of 10 additional shares of Diageo for 105 USD per share. I considered it as a substitute of buying a very large pint of Guinness to celebrate this special occasion.
Pretty much everything (at least on this side of the pond) went down yesterday. My portfolio didn’t move at all as the strengthening dollar compensated pretty much all of it. For the next week I expected the downfall to continue which hopefully opens a window of opportunity to either add to existing positions or even start totally new ones. As the uncertainty is likely to go on for years, there might be plenty of the opportunities to exploit during the next months.