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Commodity Hedge Fund Manager Will Get It Right Next Time

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There are at least two oil-trading hedge-fund managers named Hall. Andy Hall of Phibro fame has run into some trouble in recent years, but he’s still got a couple decades of success and that magical 2008, when Citi had to pay him $100 million while simultaneously going cap in hand to the Treasury Department, which did not sit well with some people but sat very well with Andy Hall, to hang his hat on.

Then there’s Tony Hall. A Credit Suisse-Glencore and Deutsche Bank veteran, he ran a commodity hedge fund at Duet Asset Management for two whole years, the last 10 months of which did not go well. He and his partner, Arno Pilz, then took a few months to hammer out how to run a hedge fund that didn’t fail in two years, and they succeeded, strictly speaking: Hall Commodities is closing its doors after just 21 months, the last of which looked a whole lot like those last 10 months at Duet.

The firm will return money to investors at the end of the month after its main fund lost 1.6 percent in September and 11 percent this year, Hall said in an Oct. 9 client letter, a copy of which was obtained by Bloomberg News. The firm, which was incorporated in December 2012, lost 10.1 percent since inception.

“After a good start to the strategy, recent months of trading have proven very difficult with performance suffering,” Hall said in the letter.

Hall Commodities Hedge Fund Shutting After Poor Performance [Bloomberg]


(Axel Hindemith)

God Is Dead

The oil God, we mean! The other one never existed.