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

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    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…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

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.