Pursuits
Billionaire Soros Was ‘Long’ on Pound Before Vote on Brexit
- Soros profited from some other investments on bearish view
- Sterling plunged by a record on Friday after Brexit vote
Jane Foley: Downside Open for Pound on 'Political Chasm'
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George Soros, the billionaire whose 1992 wager against the pound made hedge fund history, didn’t repeat the bet ahead of sterling’s record tumble on Friday.
Soros was “long” the currency before Britain’s vote to leave the European Union on Friday, and didn’t “speculate against sterling while he was arguing for Britain to remain,” a spokesman said in an e-mailed statement Monday. “Because of his generally bearish outlook on world markets,” Soros did profit from other investments, according to the statement.