Switzer on Saturday

Brexit happened! How bad will it be?

Founder and Publisher of the Switzer Report
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Friday Close
Change
Change %
Week Change %
Dow Jones
17,400.75
-610.32
-3.39%
-1.55%
S&P 500
2,037.41
-75.91
-3.59%
-1.63%
NASDAQ
4,707.98
-202.06
-4.12%
-1.92%
ASX 200
5113.20
-167.50
-3.17%
-0.96%
Data for week commencing 20 June

The bookies had Brexit at Black Caviar odds of 7/1 on, which means you had to bet $7 to make $1. However, the polls being close and the undecided being 13% last weekend worried me but the stock market is usually good at predicting big events and so are the bookies. Now we not only have Brexit fallout worries but Donald Trump and our election concerns with Labor at $5.50, meaning you put $1 on and you win $5.50.

Trump is another long shot at $3.50. Given the unreliability of bookies and even polls by Christmas, we could have Donald Trump ruling the US and the world and Bill Shorten as Prime Minister. I have to say I don't share the hate for Bill Shorten that conservatives do but I don’t think he’s ready for the top job. Also, given what we saw out of Britain overnight and with all the uncertainty it has now added to an already crazy world and global economy, Turnbull and the Coalition could be seen as a safer pair of hands.