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

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)