Great Britain would like to tearfully disagree....
Stanley Druckenmiller didn’t learn a thing from his epic trading fail — maybe you can
- Thread starter truetype
- Start date
Great Britain would like to tearfully disagree....
Ask Japan, where his loss was bigger than his gain on the pound trade...
Never heard of that one, care to throw in a link?
In the main time I raise your Japan claim with his winning against the Thai baht:
http://www.businessinsider.com/how-george-soros-broke-the-bank-of-thailand-2016-9?r=UK&IR=T
Or maybe you misremembered this one?:
" shorting the Japanese yen amid intense monetary easing encouraged by the administration of Prime Minister Shinzo Abe in order to jump-start the Japanese economy. With the trade on since November, Soros Fund Management made a reported $1 billion profit to open a year "
https://www.forbes.com/sites/afonte...the-yen-bet-against-bill-ackman/#320e841ec765
Edit: I think I found the one you mentioned:
https://nexchange.com/article/11536
It was in 1987 and they lost 840 million but it was a hedged position, both yen and US indexes. Eventually both sides went against them. But that loss was LESS than the gain from the pound. What happened after that?:
"After unwinding the positions in US and Japanese equity futures, Soros concluded that the dollar was overvalued. In typical Soros style, the Quantum Fund placed a sizeable leveraged bet against the dollar only a few weeks after Black Monday. This time around the trade worked out and value of the dollar fell generating attractive but not overwhelming profits for the Quantum Fund and its investors. By the end of 1987 Soros had erased all of the Black Monday week losses and the fund was back in the black for the year. The Quantum Fund ended 1987 up 13%."
So this is the guy you say can't trade forex?
" shorting the Japanese yen amid intense monetary easing encouraged by the administration of Prime Minister Shinzo Abe in order to jump-start the Japanese economy. With the trade on since November, Soros Fund Management made a reported $1 billion profit to open a year "
https://www.forbes.com/sites/afonte...the-yen-bet-against-bill-ackman/#320e841ec765
Edit: I think I found the one you mentioned:
https://nexchange.com/article/11536
It was in 1987 and they lost 840 million but it was a hedged position, both yen and US indexes. Eventually both sides went against them. But that loss was LESS than the gain from the pound. What happened after that?:
"After unwinding the positions in US and Japanese equity futures, Soros concluded that the dollar was overvalued. In typical Soros style, the Quantum Fund placed a sizeable leveraged bet against the dollar only a few weeks after Black Monday. This time around the trade worked out and value of the dollar fell generating attractive but not overwhelming profits for the Quantum Fund and its investors. By the end of 1987 Soros had erased all of the Black Monday week losses and the fund was back in the black for the year. The Quantum Fund ended 1987 up 13%."
So this is the guy you say can't trade forex?
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Interesting Forbes link, did not know about this:
"The beef with Ackman appeared to have intensified as the year went on, with the head of Pershing Square filing a complaint with regulators against Soros on his Herbalife trade. Soros Fund Management may have broken insider trading rules, Ackman told the SEC; regulators did nothing."
"The beef with Ackman appeared to have intensified as the year went on, with the head of Pershing Square filing a complaint with regulators against Soros on his Herbalife trade. Soros Fund Management may have broken insider trading rules, Ackman told the SEC; regulators did nothing."
I get the impression some of these big name hedge fund guys are just cowboys gambling.
Big money down with resultant big losses.
How can a trader with such large amounts of trading capital be so apparently undiversified that they take such a hit?
So one year they make a name for themselves with spectacular winnings, then "crunch" big losses another year. I have no admiration for such ego driven greedy idiots.
Big money down with resultant big losses.
How can a trader with such large amounts of trading capital be so apparently undiversified that they take such a hit?
So one year they make a name for themselves with spectacular winnings, then "crunch" big losses another year. I have no admiration for such ego driven greedy idiots.
I find that hard to believe as he’s a big fx trader and he’s earned more dollars for clients than any other hedge fund other than bridgewater (who needed like 10x the aum).
by the way, the pound trade was Stan's idea, not his...