15 Dec, 23

Andurand’s Wrong-Way Bet on Oil Cost Fund 54%

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Following a three-year Midas Touch streak, oil trader Pierre Andurand’s main hedge fund has lost 54% so far this year, and is set to rack up more losses before the year’s end, making this the worst 12 months for the fund in its history, Bloomberg reports.  Citing an anonymous source with knowledge of the fund’s current situation, Bloomberg said the Andurand Commodities Discretionary Enhanced, which has no set limits on risk, lost approximately one-third of its value in the first quarter of this year, and approximately…

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