The picture above has been used often to describe my personal beliefs on how one should approach the financial markets in 2016 on the belief we were entering the worse ever economic, social and political upheaval in America and the world.
My motto was/is “it’s better to be a live chicken versus a dead duck”.
I’m preparing a mid-year report that will detail my views, but know the first real shockwave was registered in the UK last night.
Make no mistake about it, what occurred is not isolated but contagious for all of Europe. It’s the beginning of the end for the EU and the Euro. It won’t all occur in a week, month or year, and the turmoil shall not be stopped at any specific borders. In fact, country borders are part of the enormous problem.
Despite what surely shall be a campaign by the “Don’t Worry, Be Happy” crowd (that makes up the much of the financial services industry here in the U.S., and much of the financial media that caters to most of their needs) to limit the fallout here in the good old USA, we shall see much of what’s been swept under the rug come home to roost going forward. It won’t be a straight line down (other than the stock market opens today), but rest assured, only one of the three types of people I’m about to describe shall more than survive this period:
- Makes things happen
- Watches what happens
- Wonders what happen
I strongly feel our clientele has already made the right things happen for themselves!