| | | I think there will be a lot of trouble coming out of Brexit. At the same time, everyone has known about this issue for the better part of 2 years and if their companies/entities haven't addressed the potential fallouts from these changes, well, shame on them.
If you've got exposure that you've not hedged or taken your losses on, then shame on you.
My guess, and it's only a guess, is that this will likely end up being a lot like Y2K, where the shouts of "the end is near" for computer software turned out to be lame. Yes, it created an enormous amount of work for developers to get their ducks in a row before the end of the 90s but the disasters never came to fruition.
I think Lehman Bros. and BS were very different situations, as is GE. Yes, too many kept saying to themselves with respect to LB and BS, it will all work out and were completely blind to the fact that others were actively making sure that would NOT be the case.
Just one view from "thousands of miles away"..... grin.... |
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