Ep 442: Shorting the pound
Sensemaker
00:00
How Hedge Fund Managers Make Money When the Pound Collided
The British pound touches a record low against the dollar. Investors make known their displeasure over London's big spending plans. The pound also collapsed against the euro, which is bad news for people in the UK because it imports more than it exports. Hedge fund managers trade by either going long, buying a stock or currency with a view to selling it at a higher price, or by going short. Crispin Odie had been shorting the pound and UK government bonds for some time, and it's paid off. His flagship hedge fund was up by about 145% this year.
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