Dear PSIC partners,
I’d like to forward this email from Fidelity. This link leads to a good explanation what Brexit means in general.
For our club specifically, I still hold my SH/SDS position (Thanks to the Britons, I just break even on this position). I maintain my bear view on big market and especially the biotech sector.
Major leaders such as BIIB, REGN, GILD, CELG, ILMN etc. are ALL making new lows one after another. The down trend clearly will continue.
In the mean while, the big market has been very resilient since February. I am cautiously bearish on it. It will be dragged downward eventually.
For our club, a great opportunity (once in a decade) will emerge in the next 1-2 years. Let us watch and study the biotech sector closely and diligently. Let’s find the best company that thrives to meet unmet medical needs with true innovation, hard working and determined execution.
Be patient. The golden days of biotech is coming after this bump. Remember: 21 century is the century of biology 🙂
Begin forwarded message:
From: "Fidelity Investments" <[email protected]>
Subject: Our view of Brexit and the markets
Date: June 24, 2016 at 18:53:57 PDT
Reply-To: "Fidelity Investments" <reply-fece13707466007e-10_HTMLemail@example.com>
We're here to help
With Britain's decision to leave the European Union (EU), the markets have—as predicted—reacted with uncertainty.
Some investors are concerned, while others see a market downturn as an opportunity. At Fidelity, we realize that every investor is different, and that it’s natural to have questions in times of uncertainty.
To help you make sense of today’s market activity, and volatility in any market, we suggest the following:
• Stick with your plan, and think long term.
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We’ve also published new perspectives and information about how the markets are reacting to Britain’s vote to leave the EU and what it means for investors. To get our latest points of view, click here.
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