Wednesday, 20 August 2014
Last updated 10 hours ago
Dec 10 2013 | 3:01pm ET
One of the world's most volatile hedge funds is living up to its reputation this year.
Astenbeck Capital Management lost 4% last month as founder Andrew Hall admitted that he was caught off-guard by the growing spread between crude oil traded in the U.S. and in London. "The recent blow out in Brent/WTI spread… caught many—including ourselves—by surprise," Hall wrote to investors on Dec. 2.
With November's loss, Westport, Conn.-based Astenbeck is down 8% for the year, Reuters reports. It has been in the red in each of the last three months, after having pulled itself back into positive territory in August.
If it's not able to do so again, the firm will suffer its second-ever down year, following a 3.8% loss in 2011. Of course, Astenbeck has cut it close before: It was down 10% through August of last year, but managed to end 2012 up 3.4%.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note