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Re: Brexit Pollsters Helped Hedge Funds Make Millions Off Vote

By: Cactus Flower in ALEA | Recommend this post (0)
Mon, 25 Jun 18 7:26 PM | 61 view(s)
Boardmark this board | The Trust Matrix 		Msg. 25826 of 54959
(This msg. is a reply to 25825 by clo)
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Sounds like speculation wrapped up to seem like a story. It wasn't a surprise that Leave won as it was marginally ahead in the polls.

I didn't know Farage suggested otherwise or what he knew when he said it. He wasn't leading the Brexit campaign once the formal process began.

Bear in mind there's a major campaign by the EU to disqualify Brexit as the EU is a mess right now and domino-exiting a failing organisation is appealing. Especially because Merkel is doing the same sort of thing re immigration: opening the spigot too wide in a way that impacts other countries in the EU. For reference, see what is happening in Italy.

More than Putin, Merkel made Brexit happen. We fought two wars not to be run from Berlin. But for some reason the Germans cannot help themselves in any format. It's always a European empire. It's that imperial idea which causes European wars.

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The above is a reply to the following message:
Brexit Pollsters Helped Hedge Funds Make Millions Off Vote
By: clo in ALEA
Mon, 25 Jun 18 7:12 PM 		Msg. 25825 of 54959


MURKY WATERS

Brexit Pollsters Helped Hedge Funds Make Millions Off Vote

Pollsters for the United Kingdom’s Brexit referendum sold hedge-fund officials critical advance information that allowed them to earn fortunes by short-selling the British pound, helped by a mysterious “concession” from Brexit leader Nigel Farage—which he may have known was wrong. British election law states that it’s illegal to release any exit-poll data with “any section of the public” before voting ends. Farage, a former broker who worked for a London currency trading company after he moved into politics, told the world on referendum night that Leave had likely lost—when he had information suggesting his side had won, Bloomberg News reports. That public declaration pushed investors toward a cliff edge that some hedge funds, having hired five polling companies, had secretly been warned of. Those hedge funds that hired the pollsters made hundreds of millions of dollars that night, while their industry as a whole was battered by the chaos that Brexit unleashed in global financial markets. One poll that correctly predicted a Leave vote was shared with the hedge funds and Farage before one of his public concessions that night—Bloomberg News states “there was a good chance he was feeding specious sentiment into markets.”

Read it at Bloomberg News


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