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I was short this in a simple buy the rumor sell the news strategy

The pound had become overvalued in a rally leading up to the vote, so I shorted it on the vote being done with

I was at a company dinner with some now defunct startup and someone said “wow the pound is down 10%”

I yelled YES! And the founders asked me if I just quit

If I remember correctly the odds of brexit where like 48% but the pound was valued for 100% chance of bremain. Don't need to be an hedge fund to see there was a limited risk but big potential gain for this trade.

or just sell the news. I was only looking for a 1 or 2% move.

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