Tagliaferro: Brexit reaction is nonsense

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Anton Tagliaferro, founder of Investors Mutual, has described the Australian market reaction to Brexit as "nonsense".“I've been in financial markets for 30 years and these are knee-jerk reactions that are mainly trader driven. In terms of the underlying fundamentals of many companies in Australia – nothing has changed. It's just the sentiment. It makes no sense for Australia to panic. Financial markets move in unison. Things are short term. I think when people sit down and look at companies on a stock-by-stock basis in a week's time or a month's time they will sit down and go, 'well, is Suncorp really impacted by the UK? No. Is AGL really impacted by the UK? No'." (Source: The Australian Financial Review)

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