-Unknown investor or hedge fund ‘made $850million bet’
-Bet in futures market reportedly done at odds of 10/1
-George Soros made similar bet on currency in 1992
-But source says he wasn’t involved in rumoured trade
The Daily Mail
A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.
Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market, or if the bet happened at all.
There were mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved.
He made more than $1billion on currency speculation when the British pound left the Exchange Rate Mechanism on Black Wednesday in 1992.
But a source with knowledge of the firm said Soros was not involved in the rumoured trade and questioned whether in fact there had been such a trade at all.