Monday, 25 May 2015
Last updated 3 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…