Is the U.K. a big short?
Seeking Alpha
Published Dec 31, 2018 10:29AM ET
Is the U.K. a big short?
- Steve Eisman of The Big Short fame sees a 50% chance for a hard Brexit.
- The Neuberger Berman portfolio manager tells The Times that he expects to short British companies if the hard Brexit path develops and already has short positions on three British banks ahead of the parliament vote on Theresa May's Brexit deal.
- In his interview with The Times, Eisman also outlined the nightmare scenario for U.K. investors. "The worst situation for the U.K. is to have a hard Brexit, a general election and Corbyn wins. It would be perceived extremely negatively by the U.K. market. You could short anything in the U.K. at that point. It wouldn’t matter. Just throw a dart at it — short it."
- Related stocks: BCS, RBS, LYG, HSBC.
- ETFs: EWU, DBUK, FKU, DXPS, HEWU, QGBR, FLGB
- Now read: Italy: An Opera That Never Ends
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