Speaking to CNBC-TV18 James Glassman of JPMorgan said he would be surprised if there was an upside in markets even if Britain votes to remain.The longer problem he said was whether the world has seen the last of this issue or whether there would be more referendums in future, if UK does vote to stay this time.
He says it is foolish to trade now as it is a very volatile situation.The UK referendum outcome, he believes, will be anti-climactic as it is a close one.There could be some profit-booking.
The investor community will be left with uncertainty in the longer-term if Britain decides to leave the EU. "Life doesn’t end," he said. It is a longer-term issue than a short-term trading opportunity.
As for the other members in the 28-member bloc taking a leaf out of UK, Glassman said it might not happen. Watch video for more...
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