Brexit: markets are humbled

One would have guessed that if one mixes poll results with the opinion of a pool of experts the end result would be pretty accurate.

Yesterday events proved that is not always true, as Jim Grant on CNBC said:

Markets just got a hard lesson in humility

Below is a screenshot of Betfair giving the odds of staying or leaving the EU on Thursday afternoon:

And this is how they changed when the first results came in on Friday morning: