‘Brexit’ Surprised Hedge Fund Managers Used to Picking Winners
By
George Soros, known as the man who broke the Bank of England for his bet against the British pound in 1992, said he was confident in the strength of the “remain” camp weeks before Britain voted to exit the European Union. CreditJoshua Bright for The New York Times
Even some of the smartest guys in the room got this one wrong.
The billionaire hedge fund manager Leon Cooperman told an audience of Wall Street insiders on Wednesday that there was a 70 percent probability that Britain would stay inside the European Union. “I don’t worry about Brexit,” he added.
Two weeks earlier, George Soros, who became known as the man who broke the Bank of England with a bet against the British pound in 1992, said he was “confident that as we get closer to the Brexit vote, the ‘remain’ camp is getting stronger.”
“Markets are not always right, but in this case I agree with them,” Mr. Soros added…
‘Brexit’ Surprised Hedge Fund Managers Used to Picking Winners
