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Was it open speculation though? Rich people and politicians get insider trading information all the time. It may be hard to prove (or effectively impossible to
by hajile 4y ago
Was it open speculation though?
Rich people and politicians get insider trading information all the time. It may be hard to prove (or effectively impossible to investigate in the case of US politicians due to Obama), but such speculations usually don't fall out of the sky.
- biorach 4y agoYes, it was very much open speculation. It was widely believed at the time that Sterling had been pegged at an unsustainably high value. Based on this belief Soros and the other speculators put large amounts of money on Sterling depreciating, which happened and they earned massive profits. There was no "insider information".