Plans for March

[Howard]

It’s obviously worth looking at one’s investments before a possible hard exit from the EU in March next year. I see from the investment boards that some are increasing their exposure to non UK markets.

Without getting into any political issues or statements, has anyone decided to anticipate any economic changes which may occur?

I guess it will be sensible to build up a modest stock of favourite foods and prescription pills in case of temporary shortages after March. But what about other purchases?

One of my children is moving to a new five-year fix mortgage on his house in case interest rates go up.

And I am halfway through the process of replacing Mrs H and my German cars. A few years ago before the EU stopped differential pricing, cars cost much less on the continent than in the UK (even UK-made vehicles). It wouldn’t surprise me if European manufacturers just put up UK prices after March to cover any extra tariff costs as I don’t think it will affect their UK sales that much. You either like a Mercedes or BMW or you don’t!

A friend has just sold his house in Europe as a precaution, although interestingly it was purchased by a Brit who wanted exposure to the Euro.

Do others have any strategies for next Spring?

regards

Howard

[Lootman]

Frankly I think the idea that we will have no food or medicine is ridiculous and I pay no mind to that kind of scaremongering. I will do nothing differently in my personal life regardless of the outcome in March.

Regarding investments I will continue to diversify outside of the UK but have been doing that anyway for years now, for other reasons. In investment terms I see the UK as a small foggy windy island off the North-West coast of Europe, and see no reason why I should devote more than a 10% or 20% allocation here.

The real event to fear is a left-wing Labour government. In that case the issue is not what to invest in but rather how you locate yourself and your assets to thwart those who would seek to redistribute your wealth for ideological reasons.

[Ashfordian]

Go on holiday and come back in April.

That way I can avoid the frothing-at-the-mouth media frenzy and come back when it has been it has all been a non-event

[swill453]

And I am halfway through the process of replacing Mrs H and my German cars.

Seems a bit harsh. Why not get rid of the cars first, then take stock.

Scott.

[Dod101]

I run a two year old Audi and have no intention whatever of getting rid of it. Why should I when by the logic of Howard, it will most likely increase in value if the price of a new one will rise?

I am too old now to do much about physically moving my residence and will just carry on, but Corbyn is a much greater threat than leaving the EU I think.

As for investments, carry on. The FTSE companies mostly get a great deal of their earnings from abroad anyway. I hold National Grid and SSE as my only utilities and they are small holdings. I plan to ditch the remaining SSE if the price recovers a bit, although that has less to do with Corbyn than its own finances.

Dod

[Howard]

And I am halfway through the process of replacing Mrs H and my German cars.

Seems a bit harsh. Why not get rid of the cars first, then take stock.

Scott.

Whoops! Well spotted Swill. Not quite what I meant.

I must also plan to adopt apostrophes before March.

Howard

[Gengulphus]

And I am halfway through the process of replacing Mrs H and my German cars.

Seems a bit harsh. Why not get rid of the cars first, then take stock.

Whoops! Well spotted Swill. Not quite what I meant.

Maybe I'm being a bit dim-witted this morning, but I'm left at a loss to understand what you did mean... Could you please explain?

Gengulphus

[scrumpyjack]

Yes I’ve stopped drinking French wine and when I replace my 2 German cars, my new cars will not be German.

I have been rebalancing my investments to have much lower UK exposure. Unfortunately due to personal commitments, and a certain sentimental attachment to this country, I can’t just pack up and move overseas to get away from the impending Marxist government (sorry I meant dictatorship).

I’m also looking for a disused nuclear fall-out shelter near me that I can prepare and stock up for the awful state we are going to be in after March and hope it will have plenty of storage space for canned food, bottled water and a large cellar of non EU wine.

[richfool]

And I am halfway through the process of replacing Mrs H and my German cars.

Maybe I'm being a bit dim-witted this morning, but I'm left at a loss to understand what you did mean... Could you please explain?
Gengulphus

My guess would be that he meant that he was going to replace both Mrs H's German car and his own German car, (thus 2 plural cars).

[Howard]

And I am halfway through the process of replacing Mrs H and my German cars.

Maybe I'm being a bit dim-witted this morning, but I'm left at a loss to understand what you did mean... Could you please explain?
Gengulphus

My guess would be that he meant that he was going to replace both Mrs H's German car and his own German car, (thus 2 plural cars).

Yes, you are right. I should have written "replacing Mrs H's and my German cars".

I have re-assured Mrs H over breakfast. But hope she isn't considering replacing me!

regards

Howard

[Rhyd6]

After all the hype and doom mongering I'm hoping to sleep through it all. I've practically given up listening to the news and reading the papers, other than the hatches, matches and dispatches in our local rag. I shall be glad when the whole affair is done and dusted and we can get back to living our lives as best we can. In the event of a Labour government I intend to batten down the hatches and hope for the best. I well remember the 70s debacle and will prepare accordingly, I am considering changing my religion to Hindu as I believe they're allowed outdoor funeral pyrees and as I've passed my three score and ten I want to be prepared

R6

[scotia]

as I've passed my three score and ten I want to be prepared

I thought with that burst of inflation in our middle ages we were now allowed four score and ten

[AndyPandy]

The consequential risks of a Labour Government far outweigh any short term blips caused by Brexit. Europe's countries will still want to sell us cars and fly their aeroplanes here. Their citizens are still going to want to come and see Buckingham Palace, Salisbury Cathedral (as recommended by..), the Tower of London et al. I'm sure they will still want to take our Tourist money off us in Paris, the Med and the Alps.

On the other hand, the money grab should Labour get into power doesn't bear thinking about......however, as long as the Conservatives don't make too big a hash of Brexit terms, WTO or otherwise, they should be able to win another term soon after on the back of it.

So, in the Pandy Household, plus ca change unless an election does get called this side of Brexit, in which case I shall be taking Ken Dodd's approach to investing. Or Katie Price's.

I'm certainly not going to stop purchasing and drinking French wine, whatever happens.

[Howard]

Frankly I think the idea that we will have no food or medicine is ridiculous and I pay no mind to that kind of scaremongering. I will do nothing differently in my personal life regardless of the outcome in March.

Regarding investments I will continue to diversify outside of the UK but have been doing that anyway for years now, for other reasons. In investment terms I see the UK as a small foggy windy island off the North-West coast of Europe, and see no reason why I should devote more than a 10% or 20% allocation here.

The real event to fear is a left-wing Labour government. In that case the issue is not what to invest in but rather how you locate yourself and your assets to thwart those who would seek to redistribute your wealth for ideological reasons.

Ignoring your strawman argument in your first paragraph (I didn't say we will have no food or medicine and I haven't seen any others say that and the term "ridiculous" is frankly rude) this topic is still quite current.

Many prescriptions for common conditions are made in Europe, hopefully blood pressure pills etc will not temporarily become in short supply. It wouldn't surprise me.

And some of my favourite fresh foods come from Europe, so I'm hoping the Government's plans for keeping the Dover Calais and other ports activities flowing will work.

I happened to be visiting the Mini plant in Oxford yesterday and watching them make a car every 65 seconds was struck by how many deliveries of parts from Europe were coming in every day. I'm not surprised they are scheduling their maintenance shut-down for March next year. It will be sensible to expect some disruption of deliveries.

It seems to me to be sensible to make a few plans for March. The Government are belatedly spending our millions on doing so!

regards

Howard