Sleepy Stock Market
On September 16, 1992, George Soros's Quantum Fund shorted Β£10 billion and forced the UK out of the European Exchange Rate Mechanism β pocketing $1.1 billion in profit in a single day. Stanley Druckenmiller spotted the fatal crack in August: a Bundesbank report signalling Germany would not defend weaker ERM currencies. Chancellor Norman Lamont burned through Β£3.3 billion in taxpayer money raising rates to 15% trying to hold the line β and lost. Black Wednesday remains the most devastating single-day currency trade in financial history. π§ Part of the Sleepy Stock Market series β financial history told as documentary audio. βββββββββββββββββββββββββββββ SLEEPY STOCK MARKET Fall asleep to the greatest stories in financial history. βββββββββββββββββββββββββββββ #GeorgeSoros #BlackWednesday #HedgeFund #QuantumFund #BritishPound #FinancialHistory #MacroInvesting #StanleyDruckenmiller
29 episodes
Comments
0Be the first to comment
Sign up now and become a member of the Sleepy Stock Market community!