
George Soros Was ‘Long’ on Pound Before Vote on Brexit - redcastle
http://www.bloomberg.com/news/articles/2016-06-27/soros-was-long-the-pound-before-brexit-vote-says-spokesman
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OneOneOneOne
All the short sighted articles are surprising. It is uncertain whether the
"brexit" is better long term solution for the UK. Taking a look at the stock
market a day after the vote is not going to show the true impact.

Mr Soros's comment reflects my current opinion...

“Britain eventually may or may not be relatively better off than other
countries by leaving the EU, but its economy and people stand to suffer
significantly in the short to medium term,”

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jonknee
This isn't a short sided article... George Soros is famous for "breaking the
bank" in the early 1990s so there were tons of people curious as to where he
was positioned on Friday. That's it. It doesn't matter if this turns out to be
a disaster, neutral or a good thing for the UK. All that people wanted to know
was if Soros hit the lottery twice.

[http://www.investopedia.com/ask/answers/08/george-soros-
bank...](http://www.investopedia.com/ask/answers/08/george-soros-bank-of-
england.asp)

~~~
auntienomen
The thing is, we don't know how or even if Soros bet on Brexit. The article
doesn't say. We know he was long the pound, but we don't know what the rest of
his portfolio looked like. (If he was short European stocks or long gold, he
might have done really well.)

It makes sense that people were curious about his pound position, given his
history. But we haven't got the knowledge needed to compare his massive public
outright pound bet to his pre-Brexit referendum positioning.

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Wonnk13
not really that surprised; despite the razor thin margin I think most people
(myself included) thought a Leave majority was just incomprehensible. I've
just returned from a month in London - this has been a good learning
experience for me in terms of how my personal biases help rationalize expected
outcomes. And also why I just throw money at passive index funds - I'm not
experienced enough yet to gamble on these sorts of things.

~~~
Someone1234
Here's a legitimate question, have index funds ever "crashed?" If you look at
the last ten years, they didn't do well during the recession years, but over
the entire period either matched or exceeded most managed funds but without
nearly as high of a fee.

People act like index funds are a "risky investment" compared to bonds. But is
that actually true? Seems like countries getting into trouble is so common now
that bonds aren't as rock solid as they used to be, and over tens of years
index funds have shown to be extremely stable.

~~~
skybrian
Conventional wisdom is that they are risky if you might need to sell right
away. Not so much if you're going to hold for 5-10 years or more.

~~~
loeg
I've always heard 20 years. Look at stagflation in the US in the 70s.

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Symmetry
“Now the catastrophic scenario that many feared has materialized, making the
disintegration of the EU practically irreversible” is I think something that
people aren't considering enough regarding the recent Brexit vote.

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draugadrotten
High value words like "Catastrophic", "feared", "disintegration",
"irreversible" are all markers that indicates propaganda, not analysis.

Cooler heads will prevail.

~~~
foldr
Cooler heads have completely failed to prevail so far.

I'm not sure why you think that comment is propaganda. Catastrophic things do
happen sometimes.

~~~
calpaterson
> Cooler heads have completely failed to prevail so far.

We are halfway through day 2 of a process that will take many years

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joeyspn
I doubt he was long and I doubt he's going to disclose to the press his real
strategies...

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lmm
Link should have an autoplaying video warning.

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theandrewbailey
Didn't autoplay with Firefox + NoScript.

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ceejayoz
No shit.

