Saturday, 20 September 2014
Last updated 11 hours ago
Oct 17 2011 | 12:11pm ET
Damien Bombell, who left JPMorgan Chase & Co when the bank closed its proprietary commodities trading desk in 2010, is striking out on his own.
Bombell has launched the Strand Global Macro Fund to trade metals, grains and energy with his own capital and that of his partners. The fund will start trading with capital from outside clients early next year, and Bombell told Bloomberg he’d like to see $200 million under management.
“The reason why people should invest in strategies like mine is that we are not in an investing environment anymore,” he told Bloomberg. “For the next five to 10 years, we are likely to be in a very disjointed market place, where politicians lurch from one crisis to another. You need tactical traders and people who are mentally flexible.”
Bombell, CIO of Swiss-based Strand Asset Management, is targeting annual returns of 15% to 20%.
He said the Strand fund is buying Arabica coffee based on the belief that demand will outstrip supply, and is “quite bullish” on Brent crude oil, predicting a “nasty situation” which will see it rise to $150 a barrel from its current $86.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.