Saturday, 20 December 2014
Last updated 1 day ago
Aug 13 2008 | 11:50am ET
T. Boone Pickens has been all over television lately plugging his alternative energy plans, while the legendary oilman’s commodity hedge fund has been battered in the energy markets.
Pickens’ BP Capital Commodity Fund plummeted 35% last month as long bets on oil proved painful, the New York Post reports. Crude oil—which Pickens predicted would hit $150—soared to $147.27 per barrel by mid-July, but has since fallen to about $113 per barrel.
“We notified our commodity-fund investors last week that the steep decline in natural gas and oil prices has had an adverse impact on our performance,” a spokesman for Pickens’ $7 billion Houston firm, BP Capital, told the tabloid.
The huge July losses have sent BP Capital Commodity to a 10% year-to-date loss, the Post says.
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.