Astenbeck Down 8% Through November

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%.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

The Cult of Loss Aversion: A Call to Rethink Risk in Global Macro Investing

Sep 4 2014 | 5:45am ET

In the wake of a traumatic loss, whether it is financial or personal, it is just...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.