rb

Common. I gots plenty of cash.

That's not an option. You can't just do membership fee. You have to do membership and free movement. I should point out that they also had a problem with the membership fee which actually wasn't that big and the people campaigning for Leave were really dishonest about and inflated it a lot.

Pretty much spot on. Things aren't really down that much, especially given yesterday's rally. So if you weren't wild about valuations last week, you don't really care much for them today. I personally was looking to pick up some Diageo. I thought both it and the pound will go down, but wasn't meant to be.

WFC

Yep, everything's pretty calm and not really a big selloff after yesterday. I mean FTSE is only down 2.5%. At one point last night futures were off by 9%. The market seems to be shrugging it off. At this rate we may end up in the green by the end of the day.

Yea, really cute hashtag. It's really not gonna be that cute when those fine people at the car plant that voted for leave are gonna start loosing their jobs.

I don't think that's gonna happen. It's still party over country.

The PM may and probably would resign. But new elections will not be called. There will be an election for the new leader for the Conservative party the winner of which will become the new PM of the UK. So it looks like Boris Johnson may be the new PM. No general election needed.

Meggit could get interesting!

I didn't position myself with a bet on one side or another either. Just sat in the side. I expect that I'll be taking torpedoes on my Rolls-Royce position but i have plenty or dry powder to take advantage of opportunities such as Wells, USB or cetrain tech names that will do just fine no matter what happens to the EU but will get crushed in the next few days.

Cameron sold his soul to win an election I guess. And yes, i'm pretty sure the votes will count and Britain is out. Oh well, I guess tomorrow is time to pick up some more Wells Fargo.

The brits have always gone around acting like their shit don't smell. My guess is they're gonna live to regret this one. I can't really put my finger on it, but i think maybe it was something a bit more like slick. When i lived there i got the feeling like their view was that if they screwed someone it was just a natural thing, but is someone gets the upper hand on them then it was a tragedy. Jut a bit of unsung arrogance.

The brits have always gone around acting like their shit don't smell. My guess is they're gonna live to regret this one.

This is gonna be a total shit show ugh!

I know, I know, and the fact that I got stuck in traffic this morning is likely Hillary's fault as well and I think that she also had something to do with the super-hot coffee I got from the barista. I think that potentially she's trying to kill me. On second thought, the barista looked more like a Bernie dude. Ugh the whole democratic establishment hates me! Btw, people aren't fixated with the business failure in Atlantic City. That is just a very public and well documented case in a string of business ventures that paint a picture of Donald Trump as someone who's only looking out for himself and wants doesn't care how many people he has to cheat or step on as long as he makes a buck. Not exactly what people are looking for in a leader. Reminds me of that WB saying. When you're looking for a manager you're looking at three qualities integrity, intelligence, and energy. The first one is the most important because if they don't have integrity you really want them to be stupid and lazy.

I'd be careful what you wish for there buddy. I know that a Gates/Buffett monarchy sounds pretty good right about now but if a couple of things would have gone a bit differently we would get a Koch/Koch monarchy. Now think how fucking scary that is.

How is wealth and number of people under employment a real test? By the way there are serious doubts about how much of either Trump has created. I definitely wouldn't say it was spades. If wealth creation is a real test for the presidency then why even bother to hold an election. Problem solved - Gates/Buffett 2016 and let's skip the circus. Also your test basically says that any candidate who comes from business is automatically a superior candidate. That test would basically take out all of the great presidents over the past 100 years. No FDR, no Kennedy, and definitely no Regan. But we still get to keep Hoover and Bush 2. Fantastic test that is. Oh and the president that presided over the greatest job creation in US history also didn't have a business background. As for changing the status quo, what are you really saying? That as a reward for their obstructionism republicans should receive the White House so they stop keeping the government hostage? Is this the new American way? Give into extortion and pay the ransom.

I agree with you about the sharp selloff. Though I don't think there's going to be much of a relief rally if they stay in. Things haven't really gone down so much on fear of exit, that's why the selloff if exit happens. Also yesterday was a pretty good day for stocks. So i don't think there's really much to rally from.

I've been to China on fairly long trips 7 times in the past 10 years. One thing I've learned is that when one comes along and tells you authoritatively that one knows China, one doesn't know anything about China.

The very rich. Extremely rich! billionaire needs a 100k cash infusion by end of day. http://www.thehill.com/blogs/ballot-box/presidential-races/284004-trump-campaign-wants-100000-in-donations-by-end-of-day

I dont see this as any different than what they do on SNL. Its funny. Relax or youre gonna pop a arterie. I guess it's not really sinking in. SNL is a comedy show. This is the election for the president of the United States. And you have a quote in your signature that says "If you're capable of understanding the world you have a moral obligation to become rational." By the way, the word you were looking for is artery.

I don't know if this is sinking in or not, but this is an election for the president of the United States. It is not supposed to be hilarious. It is not supposed to be fun. It is not supposed to be entertaining. It's not pop culture and it's not reality TV. It's drop dead serious stuff that affects a shitload of people's lives.

What's happening is China is very interesting. I don't know if it's the first time this happened but it's certainly unique now. What's for sure that China is not communist anymore despite the name. Communism is an economic system not a political one. A system where all people through the state own all the capital. While it hasn't been so in practice. In theory you could have a democratic communist country. However, since China shifted its economic system to capitalism it's definitely not communist anymore. Not sure what it is anymore. Maybe some weird dictatorial capitalism like Pinochet's Chile without the psychopathic angle. It's also possible that the Chinese simply don't care much if they're a democracy or not. In Eastern Europe for example people's problem with the communist gov't wasn't really the lack of democracy. It was the economic failure and shortage of goods and the extensive domestic spying on citizens. For now the Chinese gov't tries not to piss the people off too much and the money in rolling in and life gets better. So why mess with a good thing? It will be interesting to see what happens when China will inevitably go through an economic crisis. I suspect things will get dicier.

Yes but because Buffett is computer illiterate he can't get to zerohedge so obviously he has no idea what's going on.

Of course the problem is more complicated that what people are making it out to be. It's the Middle East. Is anything simple there? However I'm not so sure that it's only the 5th fleet that keeps Iran from invading other countries. For example, Saudi Arabia with almost half a million active duty armed forces personnel and another 250,000 in reserve and a huge arsenal should be able to defend itself and its allies quite well. In regards to Libya, would it have been better if the West didn't bomb the shit out of it? Btw, I don't know if the US should own that cause it was France that started the bombing and Obama looked seriously pissed when that happened. Also we don't know if western powers were supporting or helping the rebels. But without foreign intervention wouldn't Qaddafi have been able to put out the revolt? It probably would have been ugly but probably better than the mess that's there now. I guess we'll never know. But we really shouldn't be surprised that people don't really like us after we bombed their homes and their cities.