Yesterday, the United Kingdom voted to leave the European Union (EU). This is not a non-event along the lines of Y2K, but it doesn’t merit any kind of financial panic that seems to be the case during the opening of trading today.

Let’s face it… it’s not like Britain was totally committed to this marriage to begin with. They kept using their own currency, the pound instead of adopting the euro. And they bowed to the Bank of England instead of the European Central Bank.

It’s like they got married, but kept their maiden name, a separate checking account and never really gave up their old apartment. That their spouse woke up one day to find a Dear John letter on the nightstand should not have come as a huge surprise.

Stock markets all over the world sold off this morning (except for gold and gold mining companies). Bond prices have rallied driving interest rates even more ridiculously lower than they had already been driven.

At Boyer & Corporon Wealth Management, we see this as an opportunity to purchase stocks at cheaper prices, particularly emerging market equities. We also are using this as an opportunity to see what investors are willing to pay for zero coupon municipal bonds.

There are some financial and geopolitical issues that seriously concern us. This is not one of them.

This information is provided for general information purposes only and should not be construed as investment, tax, or legal advice. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable but is not guaranteed.