Yesterday, voters in the United Kingdom dealt a devastating blow to the experiment of a "United States of Europe" with their vote to leave the European Union. The "elite" of Europe, and throughout the world, including America, warned of cataclysmic ramifications if the vote to leave were to win. We believed all along that was ridiculous and continue to believe so in the wake of the approval by the British people to leave the Union. Not only do we think that it is ridiculous to think that Brexit would be cataclysmic, we believe the historic vote is a step in the right direction towards exposing the failure of socialism in Europe and throughout the world!
Whatever negative reaction happens in the markets today or over the course of coming weeks and month, related to fear over this movement, we believe it will be short-lived. We stand ready to take advantage of any weaknesses to add to our holdings in great, innovative companies run by the solid entrepreneuers who make our capitalist system so vibrant.
Stay tuned for more updates on this amazing turn of events.