BlueGold Capital To Pack It In

Why, the firm would rather not say at this time. BlueGold Capital, an oil-focused hedge fund that shot to fame in 2008 by calling the peak of the market, told its investors on Thursday it was liquidating after four years. BlueGold is conducting an "orderly closure" of the business and expects to return about 98 percent of investor capital before the end of the year, the London-based fund said in a letter to investors, a copy of which was obtained by Reuters. It did not give a reason for its closure...The fund was down 34 percent as of mid-December. [Reuters