MarketWatch – George Soros became famous as the man who “broke the Bank of England” in 1992.
In 2012 – and 2013 – Soros and other hedge fund magnates are scoring massive profits by effectively betting on the Bank of Japan and Japan’s government as they move to reflate the country’s moribund economy, weakening the yen in the process.
The Wall Street Journal reported Thursday that Soros has scored gains of almost $1 billion by betting on a weaker yen since November, while David Einhorn’s Greenlight Capital, Daniel Loeb’s Third Point LLC and Kyle Bass’s Hayman Capital Management LP have also made big profits with short yen bets.
