The British people will vote June 23 on whether the U.K. will stay or leave the European Union. If the British exit, or Brexit, happens, how can investors protect their portfolios?
Any move to leave will have serious ramifications for the United Kingdom's economy and its trade agreements with the rest of Europe, not to mention investor sentiment on the future sustainability of the European Union as an entity itself.
Using Kensho, a quantitative tool used by hedge funds, we screened for the historically best-performing international assets and ETF names (which trade on U.S. exchanges) two days after news events (polls, speeches, election results, etc.) that seemed to indicate a Brexit was closer to reality.