Gambler, I would contest that trade and movement of people are linked. The issue in my opinion less about refugees and more about immigration from the poorer fringes of the EU to the center of the EU. If I was a Greek or Polish citizen I would have been on the first train to London for better job prospects.
I have a lot of colleagues from India who are working hard here building wealth and buying land back home, eventually most plan to go back but I doubt they will as they and their kids are assimilating quickly and their dates of departure are perpetually 5 years away. The companies I've worked for have been much better off having them here as they quickly transfer skills to those around them and we are able to marry the technical skills and American business intuition to refine our business strategies.
My point is that new blood and perspective typically enhance rather than hinder both a society and an organization so that all will be better off. I know that I have been much better off.
Knowing nothing of British law, I would bet that in 3 months the new PM will look at the situation and say something like we take it under advisement that there was a referendum to exit the EU. Then outline an unlikely scenario for that to happen such as a super majority of MP's (66% + 1 vote) voting to leave and confirmed by a super majority of the voters again (66% + 1 vote). The MP then gets credit for listening to the people but also credit for a prudent decision that would have substantial impact on the U.K.'s economy.
My second most likely scenario is that the MP just acknowledges the referendum and ignores it.
I am long PEGI. I think the issue is that the Yieldco's are trading with energy instead of utilities. I would call this a buying opportunity for those who don't already have significant Yieldco holdings.
Do you guys think this a buying opportunity for MET & PRU of is their business really in peril? I'm on the fence, but think that they may be able offset low for longer with more bets on hard assets like apartment buildings and solar farms which will generate income going forward. I know the Fed may have an issue with that.
And yet, not one person without an accent has ever inquired into my lawn care needs. If an American wants to mow my lawn every Thursday for less than $100/mo I'd be happy to have him/her. Until then I'll stick with my current provider.
Having said that I'm pretty sure that developments in robotics will stem much of the demand for services that illegal aliens provide to farms and residents at least in California where the cost of living is high.
BIP is my largest holding. I doubt you have a lot to worry about as these economies have a lot of growth ahead. Countries like the US & Australia have aging populations while countries like Brazil have younger populations which will drive economic growth.