In May the average prudential balanced portfolio returned 3.44% (Apr: 0.12%). Top performer is Allan Gray (4.81%); while EMH (1.31%) takes the bottom spot. For the 3 month period Namibia Asset Management, takes top spot, outperforming the ‘average’ by roughly 2.8%. On the other end of the scale EMH underperformed the ‘average’ by 3.0%.

Brexit – I can’t hear it anymore

So the unthinkable happened. The British electorate was wrongfully given the opportunity to express its opinion democratically. The remainder of the EU should never allow a referendum on EU membership anymore as the electorate is not objective in contemplating on such decision, said a renowned French political commentator on TV the evening of the British referendum. What a blatant contempt and disenfranchisement of the European electorate. Can one still be surprised about the electorate’s skepticism towards this construct?

Former Prime Minister David Cameron, who probably tried to blackmail the EU into granting special concessions to Britain, eventually could not go back on his threat of a referendum which he probably was quite convinced, would go his way. He had no choice but to resign after this serious misjudgment of the attitude of his electorate towards the EU. As every coin has two sides the Brexit also has two sides and for anyone to pretend to understand exactly which side economically is the better one is preposterous. At the end of the day it was a decision between regaining and giving up political autonomy.