Wednesday, 20 August 2014
Last updated 53 min ago
Jun 14 2010 | 11:15am ET
The year 2010 has been a roller coaster for hedge fund BlueGold Capital Management, one that the London-based energy hedge fund would no doubt like to get off.
BlueGold took a big dive in May, losing 12.5%. That, combined with further losses in the first week in June, has the fund down 10.7% on the year.
Unfortunately for BlueGold, being down that much is not new for the firm, at least not this year. A rough start to 2010 had BlueGold down about 11% through February, leading to rumors that it was liquidating its US$1.7 billion portfolio and shutting its doors. The firm denied those whispers, and then emphatically responded with a 12.5% jump in March.
BlueGold has been nothing but a success since its launch two years ago, returning about 380% in its first 23 months.
BlueGold’s losses in May far outstrip those of the average hedge fund, which shed between 2% and 3%. On average, commodity hedge funds did better, losing less than 2%, despite the fact that crude oil prices plummeted 14% on the month.
June has not started out any better, with the firm shedding a further 2.9% through the month’s first four days.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note