The day the results came out, the market took an immediate nosedive. My Singapore stocks went downhill, and was followed that same night thereafter with my US stocks as well. It was a universal wipe-out.
It was too late to do anything by the time I came home from work. It was Friday. What did I want to do? Actually, nothing. I didn't know how things would go the following week. Would it be an immediate recovery? Or would there be more panic and capitulation? No clue. Black Swans are ugly birds. So I remained indecisive and just stayed in the market and watched.
On Monday, things reversed very quickly. Whatever losses that happened on Friday were recovered by the end of Monday. I guess the irrationals had a weekend to ponder their regrets, much like a lot of Brits who finally realised what they had done. In fact, since then, the market has been steadily climbing up further.
With the English team knocked out of the European Cup, the joke on the market was that the Brits had exited from the Euro twice in succession.
"London Bridge is falling down ..."
"Oi, but this is Tower Bridge lah noob!"
Quite a non-event. Well, not quite. The Pound has been pounded. Time to plan on a holiday to London!? Hurrah, ol' chap! Time for the Charge of the Light Brigade.
Related:
Yawning with the Bears of 2015
In Times of Fear, How Did You React?
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