BREXIT MARKET COMMENTARY

Institutions
Written By Guest User

Whenever the global financial markets react sharply to a news event, my first reaction is to ask who got caught on the wrong side and why. In the case of Brexit, it would seem that because the polls favored the “remain” camp, those speculators betting on Great Britain voting to remain were caught overleveraged and long the pound and perhaps the euro and short gold. I personally did not have a view either way, but I became leery of the polls because I had concluded that the pollsters might not get the real answers or reasons driving the voters’ choices.

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