Friday, 26 December 2014
Last updated 2 days ago
May 25 2012 | 10:40am ET
Clive Capital's pessimism has paid off in a big way for the commodity hedge fund this month.
London-based Clive is up about 7% in the first three weeks of May, thanks to a precipitous drop in oil prices. Brent crude oil prices are down 11% this month, their worst in two years.
Clive's bets against European coal, natural gas and energy futures also paid off.
"Given our softer economic outlook, we are very happy to continue our negative-bias energy positions in oil, coal and European gas and power," Clive wrote to clients. And not just to extend, but to increase, as the firm did with bets against oil. On the other hand, Clive ended its bet against U.S. natural gas.
Clive said that the world's oil supply is "good" and that demand is "weak."
The May surge was more than good enough to cover the US$3.3 billion hedge fund's losses through April, which totaled 4.8% for its Class B shares.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.