Having an information edge is essential for hedge funds. Thus, according to this revealing article by financial journalists Cam Simpson, Gavin Finch and Kit Chellel, a select group of funds took advantage of private poll information and gained a crucial upper hand as the final decision came down on the Brexit vote on June 23, 2016. The events surrounding that evening make for a fascinating and instructive read on the opaque environment in which these investment firms operate. getAbstract recommends this fast-paced cautionary tale to investors, traders and observers of the political scene. Caveat lector.
In this summary, you will learn
- What relationship hedge funds have with polling firms,
- How hedge funds use poll data to gain information advantages, and
- How events surrounding the Brexit referendum created an environment ripe for exploiting private information.
About the Authors
Cam Simpson, Gavin Finch and Kit Chellel are journalists at BloombergBusinessweek.