**Brexit Jokes & Comments Thread**

[Minge är en jävla besserwisser]

Just to make easy for you, here's the top 10 holdings in the fund.

4.5257%Itau Unibanco Hldg Sa
4.3111%Samsung Electronics Co
4.1628%Tencent Hldgs Ltd
3.9711%Icici Bank
3.5504%China Mengniu Dairy Co
3.5211%Sanlam
3.3622%Taiwan Semiconductor Manufacturing
3.3609%Haier Electronics Group Co Ltd
2.9893%Midea Group Co Ltd
2.9139%Yandex Nv


Anybody care to expand on why China Mengnui Dairy will benefit enormously from Brexit?

[flatandy]

It's a bizarre claim. Because, on its face it actually suggests that the author believes the bizarre Brexiter claim that Britain is a Big Playa! That the emerging markets will come clamouring to Britain for favourable trade deals and we'll replace all the current money made between UK and Germany with massive, hugely high-value and profitable business between the UK and Laos. To the extent that the Lao economy is going to go gangbusters once its freed from the shackles of trading with the EU, and can trade with the UK instead.

Frankly, if this is what's going to make Moggers wealthy, then Moggers is probably right about Brexit being good for the economy.

[bertruss2]

1. if these are UK companies doing more business then clearly that is a good thing so hurrah for Brexit.
2 An emerging markets fund doesn't invest in UK companies it would invest in Chinese companies.

Hurrah for multi-millionaire investors, you mean. Which 'British' companies are you thinking of? Apple, Google, Amazon? Or the 'British' carmakers, like Volkswagen, BMW, Nissan, Tata Motors of Mumbai?

[bertruss2]

It's a bizarre claim. Because, on its face it actually suggests that the author believes the bizarre Brexiter claim that Britain is a Big Playa!

Exactly. The idea of Brexit being good for the economy is a bizarre Brexiter claim. It's Theresa's slogan of 'Global Britain'. The insane idea is that we'll be able to 'trade with the world' when we already do, as Germany does and every other EU country. If it means signing Free Trade Agreements, government to government, the UK will be free to negotiate them and, possibly after a decade or so, may get back some of the 750 trade deals it loses by exiting the EU. A country which is only 15% of the EU economy isn't particularly likely to get as good terms as the EU.

[Minge är en jävla besserwisser]

Mar 12, 2018 11:22:58 GMT bertruss2 said:

1. if these are UK companies doing more business then clearly that is a good thing so hurrah for Brexit.
2 An emerging markets fund doesn't invest in UK companies it would invest in Chinese companies.

Hurrah for multi-millionaire investors, you mean. Which 'British' companies are you thinking of? Apple, Google, Amazon? Or the 'British' carmakers, like Volkswagen, BMW, Nissan, Tata Motors of Mumbai?

Away with the fairies.

[flatandy]

Mar 12, 2018 11:33:53 GMT bertruss2 said:

It's a bizarre claim. Because, on its face it actually suggests that the author believes the bizarre Brexiter claim that Britain is a Big Playa!

Exactly. The idea of Brexit being good for the economy is a bizarre Brexiter claim. It's Theresa's slogan of 'Global Britain'. The insane idea is that we'll be able to 'trade with the world' when we already do, as Germany does and every other EU country. If it means signing Free Trade Agreements, government to government, the UK will be free to negotiate them and, possibly after a decade or so, may get back some of the 750 trade deals it loses by exiting the EU. A country which is only 15% of the EU economy isn't particularly likely to get as good terms as the EU.

Fine. So what has this got to do with Rees-Smug's portfolio?

[bertruss2]

So what has this got to do with Rees-Smug's portfolio?

We're not talking about a portfolio. It's about Rees-Mogg's income from his partnership in Somerset Capital Management. He gets £20,000 a month for 'work' he does for the firm and an unknown amount in dividends declared by the firm and shared out among the partners.

The MP for North-East Somerset co-founded Somerset Capital Management (SCM) in 2007 and is one of 21 members who were paid a total of £21.9m this year, according to newly published accounts on Companies House. (The Independent 20 August 2017)


Link

[flatandy]

And how does that bring him money from Brexit?

[bertruss2]

Mar 12, 2018 14:49:54 GMT flatandy said:

And how does that bring him money from Brexit?

It doesn't because Brexit hasn't happened yet. What Brexit brings is the prospect of more wealth for the wealthiest. They may be disappointed, of course. It depends on the Free Trade (or other agreement) between the UK and the EU after the transition period which ends in 2021. The general idea is that the UK will be a buccaneering tax haven with low corporate taxes, tax breaks for the wealthy, lax financial regulations and easy access to the UK tax havens, from the Isle of Man , the Channel Islands and Gibraltar, to the Caymans and other Caribbean Islands. Combine that with an attack on workers rights at home and the opportunities for plunder by selling off national assets, like the NHS, and you get the picture of the UK as a land fit for billionaires and mere multi-millionaires, like Rees-Mogg.

The headline about a 'windfall' in the article linked to is crap, of course. I'm not arguing in defence of the article.

[bertruss2]

Somerset Capital Management (Limited Liability Partnership) Top Holdings

As of 12/31/2017

FEMSA

Yandex Nv A

Netease Inc Adr

ICICI Bank ADR

Infosys Limited ADR

Kt Corp Adr

IShares MSCI India ETF (INDA)

Copa Holdings

Buenaventura Adr

Taiwan Semiconductor SP ADR

IShares MSCI Taiwan ETF (EWT)

Transocean Limited

Cia Cervecerias ADR

IShares S&P India Nifty 50 DTC (INDY)

Pampa Spon Adr

BBVA Banco Frances

link

[perrykneeham]

Oct 31, 2016 19:22:36 GMT perrykneeham said:

Oct 31, 2016 10:47:06 GMT @oneofthelessergods said:

The term 'immediate' or 'instant' has no time reference. So going by your argument the economy should have collapsed at ground zero which is clearly impossible. The point is no-one would have suggested that, and that any reference to 'immediate' would by nature mean, I'd guess, a day or two later. Which did in fact happen - sterling collapsed.

Nah. That was just your chums in the money markets getting it horribly wrong. Experts, eh?

Whaaaaaaaaat?

[ootlg]

Hahaha... bored?

[perrykneeham]

Not a any more. I've seen some sport to be had.

[mids]

Etc.