He has apparently learned his lesson.
A day after oil prices plunged to a 13-year low in January, Pierre Andurand, a French hedge-fund manager who made millions betting against crude, started buying….
Despite investors’ widespread fears of a persistent crude glut, the price of international benchmark, Brent, has rallied close to 40% since Mr. Andurand’s call on Jan. 21.
And now that he has deigned to speak with you newspaper-reading peasants, allow him to return to the peace and serenity of his decision-making lair.
Mr. Andurand prefers to form such trading views in the silence of his own office—fitted with an ivory leather couch and floor-to-ceiling windows that look out onto luxury department store Harrods—by reading reams of analysis, rather than amid the chatter of peers. Guests enter the trading floor between two large fish tanks, designed to add a calming influence.
“I need to be really quiet,” he said. “In order to be an independent thinker, you should not speak to too many people.”
He also is the final decision maker on the fund. “I don’t need other people agreeing with the view,” he said, adding that the fund’s risk limits help protect against losses. “Sometimes it will be too late before everybody agrees.”