Category Archives: Economy

And somebody made money on the elections

When the Venezuelan Electoral Council announced that with 90% of the votes counted that Hugo Chaves won the elections, somebody made a killing on Intrade.

During the election, the Chavez reelection contract, which after trading in the 80s range (indicating an 80% probability of reelection), dipped to the low 20s, following speculation Chavez may be on the way out, only to soar to 99.9 as of the last trade.

In other words, somebody made 5x their money on the Chavez vote in minutes, money which has most likely been well spent on Cuban Cohibas by now.

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