The market can stay irrational longer than you can stay solvent

Today we are getting lots of news reports saying the economy is doing very well post brexit with everyone patting themselves on the back for ignoring the experts.

On 24th June I woke in an alternate universe. I now learn that not only is it an alternate universe, it is one where time is not linear.

The worst case scenario for brexiteers is that we’re currently seeing a rapid uplifting effect due to the rapid currency devaluation, which will plateau in the coming months. This would mean that the gains of brexit will be realised before it occurs, leaving the losses visible during and afterwards. That’s an undesirable political position to be in command of.

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