Doles Are Investors In Lehman Oil Hedge Fund

Sep 17 2008 | 11:50am ET

Oil is becoming a major issue in the surprisingly tight U.S. Senate race in North Carolina between incumbent Republican Elizabeth Dole and Democratic challenger Kay Hagan. But it’s also apparently a financial consideration for the senator, despite her claims to the contrary.

Dole’s husband, former Senate majority leader and 1996 Republican presidential candidate Bob Dole, has at least $1 million invested in an offshore Lehman Brothers hedge fund that invests in oil, gas and natural gas, Politico reports, citing Senate financial disclosures.

Dole has attacked Hagan, a North Carolina state senator, for her investments in oil wells and oil stocks. The senator also claimed that neither she nor her husband “own oil stocks,” which is technically true. But the couple did earn between $51,000 and $100,000 last year from their investment in the Lehman hedge fund, Strategic Commodities II.

Dole’s campaign, however, is sticking by its story, arguing that the first-term senator does not profit “directly from the increase in gas and oil prices.”

Recent polls show Hagan trailing Dole by less than 10 points, with the incumbent receiving less than 50% support.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note