Tuesday, 21 October 2014
Last updated 10 hours ago
Mar 6 2014 | 11:46am ET
This winter has been a rough one for New Yorkers—but not for Jonathan Goldberg.
The former Goldman Sachs and Glencore Xstrata trader’s BBL Commodities is profiting handsomely from the cold that has gripped much of the U.S. this season. The firm’s $300 million Commodities Value Fund is up 7% this year, thanks to the winter-induced rally in U.S. oil and gas prices, Reuters reports.
The relative-value fund rose 7% in January before losing some ground last month. But its positions are back in the black this month.
“BBL made money on a variety of energy themes this winter,” a source familiar with the fund told Reuters. “Compared to the average energy fund, its diversified exposure to various, niche energy markets could help protect the downside and increase the upside.”
For New York-based BBL, the drop in temperatures couldn’t have come soon enough. The fund debuted in September and lost ground in each of 2013’s final four months, ending its first year down 6%.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...