George Soros, The Art Of Arbitrage & A Time-Sensitive Opportunity

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George Soros is most certainly persona non grata in the corridors of the Bank of England.

At least not since that now-infamous Wednesday, 16th September 1992.

Wikipedia now refers to this date as Black Wednesday.

But what exactly did George Soros do to warrant such a notorious place in financial history?

Well, Soros, according to himself, made $2 billion that Wednesday (equivalent to $4.5 billion today). The Bank of England, on the other hand, lost $6 billion—or $13.5 billion in today’s terms.

In the months and years leading up to that fateful Wednesday, Soros observed that the British pound was overvalued—not because of economic fundamentals, but due to the inte…