If George can do, so can you! If Soros Can Make $1 Billion on Yen Trade, You can too?
It
was Soros second $1 billion dollar trade. Soros pocketed cool billion
dollars on each trade,once betting against a central bank, this time
betting with the central bank.
Nobody
should be surprised that a bunch of hedge-fund boys piggybacked onto
Shinzo Abe’s campaign pledge to drive down the yen. What is
surprising are the fantastic sums people like George Soros cleared in
just a couple of months, and if the new Japanese prime minister gets
his man in at the Bank of Japan, the easy yen trade may have
legs.
Wagering against the yen has emerged as the hottest trade on Wall Street over the past three months. George Soros, who made a fortune shorting the British pound in the 1990s, has scored gains of almost $1 billion on the trade since November, according to people with knowledge of the firm’s positions. Others reaping big trading profits by riding the yen down include David Einhorn’s Greenlight Capital, Daniel Loeb’s Third Point LLC and Kyle Bass’s Hayman Capital Management LP, investors say.When names like Soros, Einhorn, Loeb, and Bass, and a figure like $1 billion, get attached to a trade, you can imagine that mere mortals will start salivating. But can little guys maneuver like the likes of Soros? Is this trade a rent, or a buy? Also, not for nothing, but if the story’s on the front page of the Wall Street Journal, will that alone wreck the trade, as it’s now out there for anybody and everybody to see, and crowd into? Are Soros and the rest already selling?
Learn
more: http://www.oxbridgeresearch.com/
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