I have waited for the dust to settle post the BREXIT vote. Not that we have not been asleep behind the wheel but rather we try to avoid making both irrational decisions and drawing incorrect conclusions. The outcome caught the market by surprise. Which itself is a little bizarre. The reason it’s bizarre is that this should have been anything but a surprise. The polls prior to the event showed a very close contest and yet on D-Day the probability of “Leave” was only put at 25%. The market is a pricing machine. In theory, the more people there are trading, the more efficient pricing becomes. The prices of assets are determined by the markets’ expectations of future benefits that an asset owner