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The fund manager of Odey Asset Management, James Hanbury, has reportedly made a profit of £110 million betting against the Great British Pound (GBP) ahead of the UK’s EU Referendum vote, according to coverage by Mail Online.
Odey Asset Management is a UK-based firm that oversees funds with over $10b in assets, and Mr. Hanbury – a borderline millennial at the age of 36 – had carried out a survey which showed sentiment towards the Remain campaign leading by a slight margin. Yet, he decided to take a contrarian position anyway.
Despite the consensus he obtained from the private poll, he speculated ... (read more)