Quality Business to Consider?, page-14

Might be coming back into value territory soon, depending on the BrExit polls and the global investment outlook.

Economically, while it may hurt in the very ST and a lot of things will have to be re-thought and re-negotiated, the law of unintended consequences and the unknowns of the future means anyone who makes threats about what their business will do post BrExit or tells you the UK would be better or worse off is just blowing smoke out of their...

So I think this is a case of pricing in the unknowns as a ST HGG risk discount, but as above the impact is unknown in the LT.

I don't even know if a technical double bottom would be the signal the risk is priced in, as it will move with the political mood and exchange rate for now.