... in financial terms.
My retirement portfolio consists of a few, distinctly different mutual funds. One of those funds was an international fund that had 27% of its value tied up in the UK. It has done reasonably well over the past 5 years. But with all that money tied up in the UK, with the way the GBP has fallen, and with how I predict it will continue to fall, I expect the returns on this fund won’t be as good in the future... unless the fund manager has made some drastic changes. But it’s a $4 billion fund. You don’t move 27% of $4 billion quickly.
I dumped that fund and replaced it with a different international fund that only has 3% of its money tied up in the UK.
It’s really a bloody disgrace that the 3 key people that brought on this mess in the UK are leaving it to others to deal with the aftermath.
And the aftermath is just starting.
Just look at internationally focused mutual funds alone... many of them have UK investments as a large percentage of their holdings. As people see the returns on those funds taking a hit, many will start withdrawing funds.
Some like me already have.
And that will push the GBP even lower.
It’s not right that the culprits who created this mess shouldn’t have to deal with it.
Nigel Farage in particular. You want your life back? Fuck you... you don’t deserve it.