Good time to buy UK asset / stocks now?
Cheap GBP/USD …
Who knows. I picked up a little Royal Bank of Scotland preferred stock paying 8% back in Brexit (trades in USD). But it’s not even Brexit + global recession time yet, personally I’m waiting for outright mayhem before doing more.
Gots me some more British crap…
Barclays Preferred D, yield 7.9%
Not sure that you want to buy GBPUSD in the face of three rate hikes in 2017.
Both the above are actually dollar-denominated preferred shares, that’s what is so great.
Also, fed talked a bunch of hikes in 2016 too, I’m not a believer. Maybe one hike 2017, then crash in 2018 and back to zero! 
Great advice as usual. How is your long EM short US position doing, by the way?
Oh, checking IBKR report…
YTD as of yesterday close PA 21.6% vs SPX 13.0% vs EM 10.6%. Largest contributor was shorting the f@#k out of the US (and selling expensive covered puts), followed by Brazil and H-share longs. 
I did a few tactical trades in the wake of Brexit and made some cash on the rebound but I personally wouldn’t want to hold anything GBP denominated or that makes most of their revenue in the UK otherwise.