<table><tr><th>From:</th><th>Vincenzo lozzo</th></tr><tr><td>Sent:</td><td>Wednesday, April 6, 2016 9:52 AM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Re: Brexit</td></tr></table>

As an alternative for the hedge instead of eur/usd, long CDS. But I don't re=lly know whether I can buy CDS

## Sent from my (phone

<table><tr><th>&gt; On Apr 6, 2016, at 09:02, Vincenzo lozzo wrote:</th></tr></table>

>

> Jeffrey,

>

> Bear with me cause this might be really dumb, but I I was thinking about doi=g something wrt Brexit stuff.

>

> So my gut feeling is that the uk is not actually going to exit Europe but r=gardless I was thinking of placing two bets:

>

> 1) long eur/usd

> 2) long gbp/usd

>

> In theory case (1) covers the exit and case (2) covers the stay.

>

> How dumb is it?

>

> Sorry to take up your time with this

>

> Sent from my (phone

>

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