Photo: Bloomberg News
A couple of commodities funds got slammed last month and its not helping their terrible year.From Reuters:
London-based Clive, led by star trader Chris Levett, lost around 8 per cent last month and brought its year-to-date drop to near 10 per cent, the investor said, requesting anonymity.
Clive gained around 20 per cent last year.London’s BlueGold, led by French oil trader Pierre Andurand, dropped 5 per cent in June and brought its year-to-date losses to near 12 per cent, the investor said. BlueGold gained 12 per cent last year.
What’d they lose money in? You name it. Energy, corn, wheat, cotton — none of it’s doing well. But specifically, the only insight we have is this investor letter from Clive last year.
Maybe BlueGold’s Andurand should go back to movies.