Friday, 19 September 2014
Last updated 3 hours 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.
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.