New York (HedgeCo.net) – While most people were dealing with chaos on Monday with many world indices losing two percent or more, Julian Robertson was profiting from a bet against the Euro. In an interview with CNBC on Tuesday, Robertson stated that he can see the Euro going below parity with the U.S. dollar due to the situation in Greece.

While he thinks it isn’t necessary for Greek to exit the Euro for parity to happen, he thinks it will happen much faster if that is the case. Robertson also pointed out that it isn’t that Greece is so important that it will take the Euro down by itself, he is worried about exits becoming contagious and countries like Spain and Italy following suit if Greece does exit.

The citizens of Greece will take to the polls on Sunday to vote on a referendum for the bailout terms being demanded by creditors. Prime Minister Alexis Tsipras is asking for his countrymen to vote “No” so that government officials can negotiate a better deal.This could be bad news for stock investors as the volatile environment for the world’s equity markets will likely continue until a resolution is agreed upon.

Rick Pendergraft
Research Analyst
HedgeCoVest