Oil trader Andy Hall, known for blaming trading losses on fake news, is shutting down his hedge fund after losing 30% on the year. Just like blaming fake news for trading problems is an oddity in the hedge fund industry, the fund’s large loss size relative to a less than 10% move in the price of oil over the same timeframe is another mystery.
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After long-bias trader blames fake news, how did the oil trader lose 30% in a market that only down 10%?
Hall, a former star Citigroup trader who earned Congressional scorn after the financial crisis when he pocketed $100 million as an oil trader, closed down his flagship Astenbeck Master Commodities Fund II
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