"Tumbling commodities prices have claimed a big victim. Ospraie Management is shuttering its biggest hedge fund after a 27% plunge last month, The Wall Street Journal reports, following a series of wrong-way bets on oil and natural gas, among others. The fund, run by Julian Robertson disciple Dwight Anderson has been selling off its holdings over the past three weeks, the paper reports. At its height last year, the fund had $3.8 billion in assets."Given it is the start of the school year, a concentration on basics may be called for so if you are not totally sure what a hedge fund is, and even if you just want to have another look, here is the Wikipedia entry that is interesting and has some details (if true, hey it is Wikipedia) that even so-called experts may benefit from a read. For instance it has a nice description of the various forms of funds, on the size and flow of funds, and on their pay plans.
Wednesday, September 03, 2008
Big commodities hedge fund shuts down - Daily Briefing: