On the morning of June 24th, the world reacted to the stunning news that the UK would be leaving the European Union. As equity markets extended their losses, the world’s largest robo-advisor, Betterment, took a unique approach to managing market volatility. They did nothing. The firm, which manages over $5 Billion, locked up investor capital and restricted all trading. Clients were unable to buy or sell positions and, perhaps the most interesting part of the story, were not notified that such as ... [Continue Reading]
Articles and resources related to Brexit.
Summertime fireworks came a few weeks earlier than usual this year. But instead of blues, yellows, and greens, the early fireworks were a solid red. After strong recoveries from February lows, equity markets across the globe were jolted from their upward trajectories as they priced in the result of the British referendum to leave the European Union. The reaction of markets to the news of a “Brexit” was felt far and wide with stocks around the world shedding trillions of dollars on a single ... [Continue Reading]
By a narrow margin, British voters surprised markets overnight by voting ‘yes’ on a referendum to leave the European Union (EU). The highly charged debate on this issue largely centered on both the economic costs and benefits of being a part of the single market, as well as the open border policies that membership requires. By voting to leave the European Union, an unprecedented process has begun that may take years to complete. During this transitional period, trade agreements will need to ... [Continue Reading]
Following today's news of the UK's 'yes' vote to leave the EU, we recommend the following article from our partner, Dimensional Fund Advisors, for some additional context on the situation. Also please see today's post, An Update to CCM Clients: Market Conditions due to Brexit, by CCM Director of Investments & Research, Adam Hoffmann. *** UK’s EU Referendum Result On June 23, citizens of the United Kingdom voted to leave the European Union. While there has been much speculation leading ... [Continue Reading]
Next Thursday, June 23rd, the people of Great Britain will vote on whether their country should remain a part of the European Union (EU). This is being referred to in the media as ‘Brexit.' As we move closer and closer to voting day, the polls are getting tighter and it appears there is a real possibility that the citizens of the UK may vote to leave the union. The ramifications of this vote will impact markets worldwide and will make a significant statement regarding the long-term viability of ... [Continue Reading]