Brexit Non-Event + Invest Like Floyd "Money" Mayweather Fights

Christopher Joye

Coolabah Capital

In The AFR I explain why Brexit has proven to be such a non-event for equity and credit markets, as we predicted it would be on Monday; how we sought to capitalise on the turmoil pre- and post-Brexit in our own portfolios; and why active traders should consider emulating Floyd "Money" Mayweather's counter-punching boxing style rather than trying to impose their will on markets. Excerpt: "Yet the exuberant post-Brexit price action is not as crazy as it might first seem: profound downward adjustments in the value of the pound sterling exchange rate and global sovereign bond yields have been preserved. Pre-Brexit, sterling was worth US$1.50 and the Aussie 10-year government bond yield was 2.35 per cent. On Friday sterling was still trading 11 per cent down at US$1.34 while our 10-year risk-free rate was 15 per cent lower at 2 per cent. Risk-free rates are being traded off against risk premia in reflection of the new uncertainties unleashed by the non-binding preferences of the 39 per cent of eligible British voters." Free (VIEW LINK)


MORE ON



Portfolio Manager & Chief Investment Officer
Coolabah Capital

Chris co-founded Coolabah in 2011, which today runs over $8 billion with a team of 26 executives focussed on generating credit alpha from mispricings across fixed-income markets. In 2019, Chris was selected as one of FE fundinfo’s Top 10 “Alpha...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.