by Jeff D. Opdyke
The Sovereign Investor
Welcome to the end of the world as we know it.
The Brits, in one of the most self-absorbed acts in mass myopia, voted to flee the European Union (EU). It shocked the world, but only because the world wasn’t paying attention. I’ve been saying that the Brexit vote posed a greater risk to global well-being than the media and investors presupposed. That risk was precisely why I recommended late last week that you buy put options on the SPDR S&P 500 ETF (SPY). A Brexit success, I warned, was sure to rip across the globe.
And it did — in historic fashion. (Those put options I recommended generated gains of as much as 62% in just a week.)
Like I said originally, Britain might be an island, but the fallout was never going to be contained singularly to its shores.