Brexit causes some investors to exit

According to the yahoo article found here, Jamie Dimon and Lloyd Blankfein have delivered memos to their clients about the recent vote that will remove Britain from the European Union, also known as Brexit.
Read their Brexit quotes below.

Blankfein’s memo:

As you may have seen by now, the British people have voted to leave the European Union, and we respect this outcome. We have had a strong team focused on this potential result for many months. There is no immediate change to the way we conduct our business. A process of negotiating the terms of the exit will now begin, and is expected to take a considerable period of time. Goldman Sachs has a long history of adapting to change, and we will work with the relevant authorities as the terms of the exit become clear. We are committed to our people and our clients, and will work diligently to ensure the best possible outcome. We will continue to communicate with you as relevant information becomes available.

Lloyd C. Blankfein

Gary D. Cohn

The markets are primed for action. Even before Brexit, the S&P 500 failed to breach previous record highs 3 times in 12 months which is often a signal for turbulence ahead. Here’s an annotated chart I sent to a client on June 20th, 2016. It doesn’t usually play out this way, but the timing of this was pretty amazing.

S&P 500 Triple Top
S&P 500 Triple Top

In addition to the Brexit news, the U.S. jobs report recently delivered a negative surprise, and previous month jobs number were revised down.

Things are bad, if they weren’t the world would not be at zero to negative interest rates.

Buckle up for the ride, I expect a lot more volatility through the end of the year.

By the way, volatility does not mean the market will go straight down.

My hope is that you take this information, research, do more research, build a plan, and plan for your plan to be wrong.

Take a few minutes and consider your unique situation.  Next, write down your thoughts and concerns. Think about your thoughts and words again. Finally, share your findings with me by calling, emailing, or filling out the form below.

-IP

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For more information about insurance and your investment options contact:

Jason Soloman, The Investment Professor, Tactical Investment Advisors LLC
Phone: (980) 233-9770
Email: info@investmentprofessor.com
Address: 19825-B #149, W. Catawba Ave, Cornelius, NC 28031

The information in this blog post is not intended as tax, financial, insurance or legal advice. Please consult a licensed professional for specific information regarding each individual situation. This post was developed and produced on a topic that may be of interest to the general public. The opinions expressed, and the material provided are for general information only and should not in any way be considered solicitation. 

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