Pierre Andurand Blames CTAs For His Hedge Fund’s Worst Drawdown Ever

Bullish on oil, Andurand Commodity Fund Manager Pierre Andurand looks around the world for justification of his long exposure. Since the start of 2017, patience has been emphasized by the famous French oil trader, perhaps best known for his previous BlueGold Global Fund management, who is now struggling with an -11.6% loss year to date as of March and is in the middle of the worst drawdown in the life of the fund, a March investor letter reviewed by ValueWalk reveals. Pierre Andurand – A hedge fund manager with a strong track record finds himself in an inevitable drawdown When he…