A large commodity fund blowup. Reminiscient of Amaranth
If accurate, this could help to explain the weakness in
crude, gold, etc. over the last few minutes.for example, crude just
dropped by $3 a barrel. Seems I'm hearing that it was commodity
hedge fund BlueGold Capital, which manages about $1.5 billion out
of London. Rumors are that they had big bets on oil gone wrong, and
may have been responsible for exacerbating the recent down move.
Bloomberg said the fund is down -11% ytd.
Possibly related to the monster volume on DBC and DBA just a cpl
days ago:
Another Hedge Fund crash
Posted by klatuu on 5th of Feb 2010 at 01:07 pm
A large commodity fund blowup. Reminiscient of Amaranth
If accurate, this could help to explain the weakness in crude, gold, etc. over the last few minutes.for example, crude just dropped by $3 a barrel. Seems I'm hearing that it was commodity hedge fund BlueGold Capital, which manages about $1.5 billion out of London. Rumors are that they had big bets on oil gone wrong, and may have been responsible for exacerbating the recent down move. Bloomberg said the fund is down -11% ytd.
Possibly related to the monster volume on DBC and DBA just a cpl days ago:
http://breakpointtrades.com/blog/post/98509/
Klatuu
apparently BlueGold Capital isn't it
Posted by klatuu on 5th of Feb 2010 at 01:21 pm
http://online.wsj.com/article/BT-CO-20100205-706355.html?mod=WSJ_latestheadlines