Sunday, 3 May 2015
Last updated 2 days ago
Mar 20 2012 | 1:36pm ET
Investors who want a piece of former Credit Suisse trader George Taylor's year-old commodities hedge fund are running out of time.
Greenwich, Conn.-based Taylor Woods Capital Management will close its Master Fund at the end of the month. By then, the firm will have raised almost $1.3 billion, more than twice the $500 million it targeted at its January 2011 launch.
Taylor Woods has managed to garner the money despite a disappointing first year. But Taylor told investors in a letter earlier this month that "conditions in 2012 will be far more optimal" than last year, Reuters reports. So far, so good: Taylor Woods is up 3.25% through March 9.
Taylor told investors that it planned to increase risk this year, likely leading to "more volatility in the portfolio due to the dynamic nature of the current markets." But, he added, "we believe the current conditions warrant the additional risk."
That risk has pushed Taylor from natural gas, where he made his name at Credit Suisse, towards oil. "We believe that event risk is extremely high with Western governments contemplating reserve releases, sanctions against Iran and potentially military action in the Middle East." Brent crude oil could become "the tightest commodity on the planet."
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…