The market rally over the past few days, in the hindsight, looked to be total speculation, based on experts calling "remain". Though I didn't expect the British want to leave EU this desperately, since changes always create uncertainty and anxiety, unless out of necessity.
It is clear that people with lower education, low income and low social class/grade want to "leave", and vice visa for the rich and upper class, who voted "remain". I guess wealth disparity and social inequality are creating problems in a nation, dominated by capitalism. I will leave that debate to the public.
Yes, Brexit impact will be felt in the financial world, so interconnected that even Big Four will feel the impact, though in my opinion, Australia banks are mostly domestically focused, so the exposure will be limited.
I guess when market rattles and jolts, why not pick up great banks at cheaper price.
CBA is great, but quite expensive.
NAB is cheaper, but its declining earning is a bit of a problem.
ANZ is ok, but recent economic downturns in Asia can cause some debt issues. though its price look reasonable.
WBC is ok to good. continuous growth in earning. its UK exposure will be felt, should not be too bad.
My pick in Big Four is WBC and ANZ.
Open to different opinions.
PS: I also expect some capital-loss selling/tax selling over the next few days. So, I will pick up shares gradually, if the price seems right.
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