Hedge funds make big bets against post-Brexit UK economy
by Jasper Jolly from Economics | The Guardian on (#44NQ8)
Hedge funds make million-pound bets against high street as Brexit uncertainty threatens UK economy
A pair of hedge funds owned by prominent Brexit supporters have made significant bets against companies exposed to the British consumer including big high street names.
Odey Asset Management, part-owned by Crispin Odey, and Marshall Wace, part-owned by Sir Paul Marshall, have declared short positions against consumer-exposed companies, including retailers, estate agents and banks, equivalent to 149m and 572m respectively - as rising political uncertainty threatens the economy.
Related: George Soros makes 10.5m stock market bet against WH Smith
Continue reading...