Oil "God" Shutting down main Hedge Fund
Hey guys,
I just read this article regarding Andy Hall, a famous oil trader sometimes referred to as "God." Andy Hall is shutting down his hedge fund, Astenbeck Capital, after it fell 30% due to the low volatility of oil prices after it fell more than 50% since 2014.
Hall shot to fame during the global financial crisis when Citigroup Inc. revealed that, in a single year, he pocketed $100 million trading oil for the U.S. bank. His career stretches back to the 1970s and includes stints at BP and legendary trading house Phibro Energy Inc., where he was chief executive officer.
Hall is the latest high-profile commodity hedge-fund manager to succumb to the industry’s low volatility and lack of trending markets. At least 10 asset managers in natural resources have closed since 2012, including Clive Capital LLP and Centaurus Energy LP. Goldman Sachs reported its worst-ever result trading commodities in the second quarter.
Thoughts on this matter, oil markets, etc.?