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A comment on The Trade of the Century: When George Soros Broke the British Pound. Parent comment

Re:The Trade of the Century: When George Soros Broke the Bri... by M2Ys4U on Friday May 16, 2014 @03:14AM (#7754151)
> If Soros's bet had gone against him, he would have lost all of his investors' money and been left penniless. There would have been no bailout waiting in the wings.

Well, no. This is explained in the article: If Soros' assumption (that the exchange rate would plummet) hadn't been realised Sterling would've stayed at the lower bound of the ERM and Quantum wouldn't have lost much at all.

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Re:The Trade of the Century: When George Soros Broke the Bri... by gabemart on Friday May 16, 2014 @06:05AM (#7754688)
We can have reasonable confidence in that assessment in hindsight. At the time, I would have been unwilling to gamble my net worth against the possibility of some unforeseen event causing a spike in the value of the pound. It was a non-zero risk.
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Re:The Trade of the Century: When George Soros Broke the Bri... by VintageCool on Friday May 16, 2014 @11:13PM (#7759137)
Soros clearly had confidence in it. That's why he's the player that won the pot.
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