Nick Griffin, Head of Investments at Munro Partners, says that the referendum in the UK was based on anti-immigration and anti-globalisation views, which has created a negative economic outcome for the UK and Europe. “The positive scenario from here is for the UK to suffer quite badly, and for the EU to become stronger out of this.” While the ‘positive’ scenario doesn’t sound inviting (especially for the British), the bear case - the disintegration of Europe - is much worse. Ultimately, he feels markets are being complacent; “there’s an argument just to move to the sidelines until the weather gets better… This could create a domino effect - it’s not likely, but there is potential. Where markets and valuations are, it makes sense to us to step slightly to the sidelines.” Watch the full video to hear the bull and bear cases on Brexit:
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