Stefan Wermuth/ReutersBrexit has been hailed as an unprecedented event, signaling a major shift across the European continent. Oddly enough, the UK had in fact pulled a similar move in 1992 by removing itself from the European Exchange Rate mechanism (ERM). This drop has drawn comparisons from investors such as George Soros (who helped bring about the 1992 move) and market analysts. While the precipitous drop in the pound is no doubt an apt comparison, there is just one problem with the Brexit is like 1992 ideas: stocks. Here's a breakdown from Capital Economics' on the dichotomy (emphasis added): "In the first four days after the UK exited the ERM on 15th September, sterling fell by 6% against the German mark.

Topics:  stefan wermuth/reutersbrexit   oddly   exchange rate   george soros   september   prior   admittedly   eu but   watch   us navy   erm   eu   europe   uk    so   capital   economics   german   ftse   uk&rsquo   germany&rsquo   time   market   economy   pound   stock   fell   drop   move   emphasis   similar   positive   investors   days   weaker   uncertainty   added   run   playbook   comparison   outperformed   sterling   
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