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A Few Hedge Funds Actually Killed It Betting On The Swiss Franc
When the Swiss National Bank unexpectedly removed Swiss franc's peg to the euro last week, the change made a hit investors hard. Really hard. To recap, Citigroup and Deutsche Bank both lost about $150 million each when the franc soared in value. Interactive Brokers lost $120 million and foreign exchange broker FXCM said clients lost $225 million. But of course, someone had to be on the other side of those positions and, those are the investors that came out on top. According to the Wall Street Journal, here are a few hedge funds, specifically, that actually made money betting on the Swiss franc: Brevan Howard Asset ... (full story)
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