Originally posted on 2012 The Awakening:
Submitted by Tyler Durden on 01/23/2015 12:52 -0500
Minutes after last week’s Swiss National Bank shocker, jokingly we mused:
… because there would be nothing more ironic if the man who “broke the Bank of England” ended up being FXCMed himself by another central bank, over two decades later and just as he was set to finally retire, at the age of 84, formally, something he supposedly announced in Davos yesterday.
As it turns out, we were almost correct, and according to the WSJ, Soros Fund Management, which manages more than $25 billion for investor George Soros, was betting against the Swiss franc in the fall before it removed those bearish positions. Why did the Soros so conveniently take off a bet which, with leverage, could have resulted in massive losses for his hedge fund? The WSJ says he
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