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Oil Trader Andurand Losing 46% In Worst Year Ever
This year's slide in oil has been painful to commodity bulls, and none more so than famed oil hedge fund manager Pierre Andurand whose already bad year is getting worse. Bloomberg reports that after dropping another 9.4% in May, his main Andurand Commodities Discretionary Enhanced Fund has extended this year’s slump to almost 46%, making this the worst-ever phase of losses for the strategy, which has lost money every month this year. Still, the brutal 2023 follow three consecutive years of impressive gains including a record 154% jump in 2020. While Bloomberg notes that it’s "not clear what led to the drop this ... (full story)
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- Posted: May 25, 2023 7:00pm
- Submitted by:Category: Energy Trading NewsComments: 0 / Views: 87
