I turned on CNBC this morning to the news that the Brits had voted to leave the EU. The S&P futures showed a loss of nearly 4%. The British Pound dropping by nearly 8%. The announcers are interviewing anyone that will talk about the doom to come. In other words the sky is falling...again.
Except that it is not.
This is another example of the crisis de jour that causes too many investors to think like day traders. The long term effects may be substantial, but they will not be deadly. The markets will fall today, but they will not go to zero. If anything, this will be a chance to buy some stocks for long term gain.
Remember, the price of the permanent ups of the stock market are these short term downs.