Summary of The Brexit Short

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The Brexit Short summary

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  • Controversial
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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.

About the Authors

Cam SimpsonGavin Finch and Kit Chellel are journalists at BloombergBusinessweek.


The June 2016 Brexit referendum was an investment disaster for many. The release of what turned out to be “specious” exit poll data caught most investors wrong-footed but also provided an opportunity for the enrichment of a select few. Nigel Farage, the UK Independence Party (UKIP) leader, conceded defeat for the Leave campaign a few minutes after the polls closed and hours before all votes were recorded. Yet the concession hid his advance knowledge that the Leavers had likely won. 

Preemptive access to private poll indications informed a number of...

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