Eight Billion Pounds

[baggy1]

I don't suppose any of us find this particularly surprising: it's the kind of thing hedge funds do all the time and, while we might wonder at the empty morality of 'positioning yourself' to profit from chaos and misery, there's nothing illegal about it. Unless of course there's insider trading going on - and who would bet against that being the case.

Where I would have an issue is if these speculators have direct access to those making the decisions and even more so if they are getting the opportunity to have some input into those decisions. That, to my mind, would be no better than insider dealing; worse if anything.

Here you go the context to the original post

Here you go.

https://fullfact.org/economy/short-positions/

Another of your facts!


What were you saying about Social Media confirming people’s prejudices?

Which is why I didn’t post this with an endorsement simply the article the rumours were based on.

Should put it on the side of a bus etc.

Those articles about the short positions and the subsequent outrage are fucking hilarious, particularly as the majority of those getting themselves into a shit fit over something they don't understand often accuse anyone with a different opinion to them of being some type of moron. The one about Crispin Odey taking short positions on companies like The Royal Mail (like post isn't a dying game) also featured a small mention of him taking long positions on companies like Tesco, which was totally ignored amidst the hysteria.

Which is why I posted this:

In the same way that £350m on the side of a bus should be taken in context, I would also look at this with scepticism. This is a very murky world that we are getting into and it wouldn't surprise me to find out that people with some money to invest can see that Brexit would cause some serious turbulence. It's not rocket science to see that, however saying that Boris and his cronies are deliberately driving the country to that position for that very reason is stretching it.

What I have tried to do throughout this is to understand what each side's point of view is and try and argue the point with fact or reason. This sort of shit from both sides doesn't help with a debate, it just digs trenches deeper. Social media has a lot to answer for in the current mess we are in.