Andurand’s Oil Hedge Fund Crashes After Oil Price Bet Goes Awry ...Middle East

OILPRICE - Economy
Andurand’s Oil Hedge Fund Crashes After Oil Price Bet Goes Awry
source : OILPRICE ( Middle East ) () 40
After a wildly successful period amid soaring oil prices, legendary oil trader Pierre Andurand has seen his hedge fund suffer the worst ever loss after oil prices reversed course. Andurand’s main Andurand Commodities Discretionary Enhanced Fund, which makes leveraged bets, fell by another 7% in the current month through June 23 to bring year-to-date losses to 51%, a sharp contrast to the more than sevenfold return it recorded in the previous three years. The fund, which Andurand runs with no set risk limits, has suffered catastrophic losses…

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