The Motley Fool

I’m not worried by a no-deal Brexit! 2 UK shares I’d buy in an ISA to get rich

Image source: Getty Images

It’s clear by now that a no-deal Brexit will have significant ramifications for the domestic economy. This means UK share investors like myself need to be extremely careful before buying for their stocks portfolios.

Massive Brexit uncertainty has cost Britain a fortune in lost productivity and delayed investment already. Under all scenarios, the domestic economy will suffer — at least in the short-to-medium term — from the UK’s withdrawal from the European Union. However, a no-deal Brexit would deliver a hammerblow and many UK shares will suffer considerably.

5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!

According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…

And if you click here we’ll show you something that could be key to unlocking 5G’s full potential...

Brexit bother

But you don’t just need to take my word for it. Bank of England chief Andrew Bailey laid out the dire consequences of a hard Brexit in comments to MPs this week. Speaking to the Commons Treasury Committee, the big cheese at Threadneedle Street said: “The long-term effects [of a no-deal Brexit], I think, would be larger than the long-term effects of Covid.”

Negotiators in London and Brussels have less than five weeks to avoid falling off the Brexit cliff edge. Bickering over key issues like trade standards and fishing continue and the chances of a post-Brexit trade deal failing to materialise are significant.

Two UK shares on my ISA radar

Clearly, Brexit is an issue that UK share investors need to take extremely seriously. But, like the Covid-19 crisis, the consequences of a cliff-edge EU withdrawal won’t stop me for one from continuing to invest in my Stocks and Shares ISA.

Here are two UK shares whose profits could soar if a no-deal Brexit occurs in the coming weeks:

1) Polymetal International

Significant Brexit uncertainty has been a major driver for precious metals prices in recent times. Gold might have spiked to record peaks above $2,000 per ounce this year because of the Covid-19 crisis. But fears of a disorderly Brexit was helping to sweep bar and coin demand higher before the start of 2020. I reckon it could swing higher again before long too.

I’d buy gold mining giant Polymetal International shares to ride this theme. This UK share’s price-to-earnings (P/E) ratio of 8 times for 2021 offers significant bang for one’s buck. And its 8.2% dividend yield beats the corresponding yields of all but a couple of other FTSE 100 shares.

2) Manolete Partners

Unfortunately, the prospect of a no-deal Brexit threatens to do more irreparable damage to British business. But revenues at insolvency litigation financing specialists Manolete Partners are likely to leap under this scenario.

The AIM company already has the bit between its teeth following the coronavirus crisis. Revenues and pre-tax profits exploded 153% and 49% respectively in the six months to September. And 2021 looks like it’ll be another big year for Manolete Partners. Today, the UK share trades on a forward P/E ratio of 14 times. I reckon this makes it an attractive buy at current prices.

A Top Share with Enormous Growth Potential

Savvy investors like you won’t want to miss out on this timely opportunity…

Here’s your chance to discover exactly what has got our Motley Fool UK analyst all fired up about this ‘pure-play’ online business (yes, despite the pandemic!).

Not only does this company enjoy a dominant market-leading position…

But its capital-light, highly scalable business model has previously helped it deliver consistently high sales, astounding near-70% margins, and rising shareholder returns … in fact, in 2019 it returned a whopping £150m+ to shareholders in dividends and buybacks!

And here’s the really exciting part…

While COVID-19 may have thrown the company a curveball, management have acted swiftly to ensure this business is as well placed as it can be to ride out the current period of uncertainty… in fact, our analyst believes it should come roaring back to life, just as soon as normal economic activity resumes.

That’s why we think now could be the perfect time for you to start building your own stake in this exceptional business – especially given the shares look to be trading on a fairly undemanding valuation for the year to March 2021.

Click here to claim your copy of this special report now — and we’ll tell you the name of this Top Growth Share… free of charge!

Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.