Post by Souriquois on Jun 27, 2018 14:18:03 GMT -4
This is a long read but completely messed up.
www.bloomberg.com/news/features/2018-06-25/brexit-big-short-how-pollsters-helped-hedge-funds-beat-the-crash
Basically, a bunch of investors, who were also working with the "Leave" campaign shorted a bunch of stocks the day of the Brexit vote. This presumes they knew what was happening.
A "short" is a stock market transaction where you sell stocks you don't have on margin (kind of like a credit card, but for stocks), and is best done before a stock is about to tank, then you can buy the stocks back at the lower price and you make money from that margin.
British stocks did tank right when the Brexit vote was called... I remember watching stock markets in real time that night, it was nuts.
$37 billion was made off Brexit, due to shorts.
I trade stocks, yes, but I have morals about it. Probably the riskiest stock transaction I ever did was buy up a bunch of cannabis stocks the day of the Canadian election, which I did do quite well off of, getting a 700% return on investment once the election was called.
But placing a bet on an event that could negatively effect people I could never do.
I remember the day after Brexit, joking how I should have shorted a bunch of British stocks, but it was a joke... the butt of the joke being such a transaction would be crass and unethical.
And I was always wondering why these hardcore capitalists are supporting far-right parties in Europe, giving them money directly or funding media outlets that platform them, when from a capitalist point of view, the far-right would be extremely bad for the economy, including big business... UNLESS you are shorting stocks in the countries where you are trying to get them elected.
www.bloomberg.com/news/features/2018-06-25/brexit-big-short-how-pollsters-helped-hedge-funds-beat-the-crash
Basically, a bunch of investors, who were also working with the "Leave" campaign shorted a bunch of stocks the day of the Brexit vote. This presumes they knew what was happening.
A "short" is a stock market transaction where you sell stocks you don't have on margin (kind of like a credit card, but for stocks), and is best done before a stock is about to tank, then you can buy the stocks back at the lower price and you make money from that margin.
British stocks did tank right when the Brexit vote was called... I remember watching stock markets in real time that night, it was nuts.
$37 billion was made off Brexit, due to shorts.
I trade stocks, yes, but I have morals about it. Probably the riskiest stock transaction I ever did was buy up a bunch of cannabis stocks the day of the Canadian election, which I did do quite well off of, getting a 700% return on investment once the election was called.
But placing a bet on an event that could negatively effect people I could never do.
I remember the day after Brexit, joking how I should have shorted a bunch of British stocks, but it was a joke... the butt of the joke being such a transaction would be crass and unethical.
And I was always wondering why these hardcore capitalists are supporting far-right parties in Europe, giving them money directly or funding media outlets that platform them, when from a capitalist point of view, the far-right would be extremely bad for the economy, including big business... UNLESS you are shorting stocks in the countries where you are trying to get them elected.