The Brexit Short: How Hedge Funds Used Private Polls to Make Millions

Re:The Brexit Short: How Hedge Funds Used Private Polls to M... by gammateam on Wednesday December 12, 2018 @10:43AM (#18664806)

I was short this in a simple buy the rumor sell the news strategy

The pound had become overvalued in a rally leading up to the vote, so I shorted it on the vote being done with

I was at a company dinner with some now defunct startup and someone said “wow the pound is down 10%”

I yelled YES! And the founders asked me if I just quit

[ Parent | on HN ]

Re:The Brexit Short: How Hedge Funds Used Private Polls to M... by GateCrasher on Wednesday December 12, 2018 @12:40PM (#18665907)

If I remember correctly the odds of brexit where like 48% but the pound was valued for 100% chance of bremain. Don't need to be an hedge fund to see there was a limited risk but big potential gain for this trade.

[ Parent | on HN ]

Re:The Brexit Short: How Hedge Funds Used Private Polls to M... by gammateam on Wednesday December 12, 2018 @12:47PM (#18665968)

or just sell the news. I was only looking for a 1 or 2% move.

[ Parent | on HN ]