Market reaction to Britain’s referendum result has been harsh and totally unjustified.
Before New York had even opened for trading the Japanese market had already been pummeled, down more than 7% by the close. Likewise, European markets got hammered with the German and French indices down 6.8% and 8% respectively.
Why? Investors were nervous about the future of the European Union now that Britain has said it wants to leave the superstate.
Here’s the thing though. Most of the things that we worry about simply don’t happen. Put another way, the shark that we see isn’t the one we should worry about. Read more here.
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