Back on June 29, 2016 I suggested that Brexit = Y2K and that UK stocks should do well (here and here). What I meant was that Brexit was a non-event. In fact it was a positive for the UK economy as it removed a level of bureaucracy. I was certain that the UK would still be able to trade with world just like it had for the past 400 years. Most experts warned that Brexit would lead to a massive and certain recession.
It appears the experts were incorrect as The Times Newspaper had this headline a few days ago “Britain has world’s top economy“. GDP growth accelerated after Brexit. What the experts and economists missed is that the EU is a burden. It may be a large market but it is a large regulated and expensive market to do business in.
UK stocks advanced almost 15% after Brexit. My very contrarian call was very accurate.