Its not the usual week for my WaPo column, but the editors at the Sunday Washington Post Business Section asked me for a few words about what investors should do in light of Brexit. I gave my usual take, which not surprisingly, was along the lines of “Ignore the noise and just do nothing.”
Here’s an excerpt from the column:
“Brexit! This is not a drill!
The klaxon horns have sounded, and it’s all hands on deck! The British “leave” vote — Brexit in financial medialand speak — has forced us all once again to rouse ourselves from our media-induced slumber and get busy getting busy. Pull on your big-boy pants, and sell this, buy that! Hedge, hedge, hedge!
*Sigh* Or not.
It is my never-ending charge to remind you (once again) that the time to read the card on the seat back in front of you is before the plane takes off. At 30,000 feet, with the engines catching fire, you will most likely have missed the opportunity to think calmly and clearly about your best options.
This is why we plan ahead for events such as Brexit.”
Included is a handy list to remind yourself of all the things investors should keep in mind when macro events cause turmoil . . .
Brexit happens. Know your investment plan, and stick to it.
Washington Post, June 26, 2016