Who will be the next Soros
World-famous investor George Soros is said to have made a billion dollars by shorting the british pound in the 1980′s. Since that time the pound climbed back up to 2×1 against the US dollar. But in recent weeks it has fallen sharply, along with most European currencies. Now the big question everyone wants to know is: “How low can it go”?
Of course you can never know what will happen for certain. But there are strong indications that the financial crisis, may lead to a longer and deeper recession in Europe than in the USA. Even before the crisis hit, many felt that the pound was overvalued and that real estate values in the UK had reached unreasonable levels from which a fall was unavoidable.
So for all you aspiring billionaires out there, this may be your chance to short the pound and be the next Soros!
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