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Posted: 1/18/2015 2:10:04 AM EDT
The Swiss National Bank (SNB) stunned markets on Thursday, when it scrapped its three-year-old peg of 1.20 Swiss francs per euro.
In a chaotic few minutes after the central bank's announcement, the Swiss franc soared by around 30 percent in value against the euro. The franc broke past parity against the euro to trade at 0.805 per euro, before trimming those gains to trade 13 percent higher at 1.040. The currency also gained 25 percent against the U.S. dollar, before falling back to trade around 12 percent higher at 0.901 francs per dollar. http://www.cnbc.com/id/102340182 Hedge fund manager Marko Dimitrijevic is closing his largest hedge fund, Everest Capital's Global Fund, having lost almost all its money after the Swiss National Bank (SNB) scrapped its three-year-old cap on the Swiss franc against the euro, Bloomberg news reported on Saturday.
http://www.businessinsider.com/r-large-everest-capital-hedge-fund-closing-after-swiss-franc-losses-bloomberg-2015-1 |
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Posted: 1/18/2015 2:39:30 AM EDT
[#1]
How many billions did Soros make?
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Posted: 1/18/2015 2:51:58 AM EDT
[#2]
Wow. You could have made some sweet sweet cash if you got the inside tip on that.
I'm sure a select few rich assholes laughed their asses off all the way to the bank on this. |
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Posted: 1/18/2015 3:14:21 AM EDT
[#3]
You have just described the opening shots of WW3
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Posted: 1/18/2015 3:42:56 AM EDT
[#4]
Invest your life savings with some guy with a Russian surname running a no-name Hedgefund. What could go wrong?
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Posted: 1/18/2015 1:39:18 PM EDT
[#5]
Was reading about this the day of. Several rather large companies went bankrupt and/or, suffered severe losses around the world. Almost immediately, the swiss franc went from 1.20 euro per (pegged rate) to .85 euro per.
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Posted: 1/18/2015 1:40:32 PM EDT
[#6]
In the long run, severing ties to the Euro will benefit the Swiss.
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Posted: 1/18/2015 1:43:36 PM EDT
[#7]
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Posted: 1/18/2015 1:49:36 PM EDT
[#8]
Quote HistoryReads like they see something coming and would rather take the pain now, rather than later. |
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Posted: 1/18/2015 1:50:37 PM EDT
[#9]
Quote HistoryQuoted: How many billions did Soros make? Quote HistoryQuoted: How many billions did Soros make? Quoted: Wow. You could have made some sweet sweet cash if you got the inside tip on that. I'm sure a select few rich assholes laughed their asses off all the way to the bank on this. No doubt in my mind . |
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Posted: 1/18/2015 1:51:44 PM EDT
[#10]
Quote HistoryQuoted:
Wow. You could have made some sweet sweet cash if you got the inside tip on that. I'm sure a select few rich assholes laughed their asses off all the way to the bank on this. 15% increase in one shot... |
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Posted: 1/18/2015 1:52:24 PM EDT
[#11]
The Dollar is Soaring. What could possibly go wrong?
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Posted: 1/18/2015 1:55:35 PM EDT
[#12]
OST
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Posted: 1/18/2015 2:00:26 PM EDT
[#13]
Quote HistoryI get a splittin fracking migraine just half-browsing those TEOTWAWKI websites . . . they're a dime a dozen these past few years .  As soon as I see side bars of ads for water purification straws or MRE's , my stomach just turns. Their credibility (admittedly unjustifiably, I know) just swirls down the drain .....as quickly as fat loss drugs and penis enlargement gimmicks get pushed to spam folders automatically . I'd rather read The Economist or something like that, any more  |
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Posted: 1/18/2015 2:01:25 PM EDT
[#14]
One of my classmates in grad school is a dual British/Swiss citizen and she exchanged her francs for dollars at the height of this surge. She didn't exchange much but scored herself a bunch of extra dollars.
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Posted: 1/18/2015 2:01:29 PM EDT
[#15]
Quote HistoryQuoted: The Dollar is Soaring. What could possibly go wrong? And gas is cheap .....WE'RE SAVED!!! Hail obamma !!  |
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Posted: 1/18/2015 2:12:19 PM EDT
[#16]
Quote HistoryQuoted:
Wow. You could have made some sweet sweet cash if you got the inside tip on that. I'm sure a select few rich assholes laughed their asses off all the way to the bank on this. It looks to me like they kept is secret well. When there are leaks there are usually big moves 24-48 hours ahead. When the good US GDP numbers came out a few weeks ago there was a big upward move in the stock market about 24 hours ahead of the public release. It looks like everyone got caught flat-footed on this one. |
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