Posts Tagged ‘UK equities’
The largest foreign exchange transactions ever made. Part II
February 21st, 2010
No. 2: Stanley Druckenmiller betting on the frame twice.
Stanley Druckenmiller made millions by betting long (Long Bets) twice to the same currency while working as an operator for the Quantum Fund of George Soro.
The first bet Druckenmiller came when the Berlin Wall fell. Already perceived difficulties with regard to the reunification between East German and West German mark had led to a depression that Druckenmiller considered extreme. Initially, he made a multimillion-dollar bet for future recovery (Rally) until Soros ordered to increase their purchase of 2 billion DM.
Things were consistent with the plan and the long position (Long Position) came to be worth millions of dollars, helping to take the Quantum Fund's performance above 60%. (more...)
Tags: George Soros, Pound Sterling, UK equities