When fallen Oil God and Vikram Pandit underminer extraordinaire Andy Hall shuttered his oil fund last month, it seemed to many like oil prices would never bounce back. For if Herr Hall of Schloss Derneburg couldn't reanimate the dead oil trading scene, no one could.
Turns out that sentiment was only half right...
Hall, who shot to fame after pocketing $100 million from a single year’s trading back in the 2000s, quit the oil market and returned money to investors on Aug. 31, just as prices really started to take off. In a farewell letter to his clients, he said, with a hint of irony, that his conversion from a long-term bull into a bear could be signal to buy.
He was right. Brent crude has climbed to a two-year high since Hall decried the worsening outlook for a “frustrating” market. The legendary trader’s fund dropped 30 percent in the first half, but evidently he hadn’t lost all of his insight.
So Andy Hall did save oil prices after all, he just did via human self-sacrifice.
Bloomberg even has the most brutal chart ever to prove it:
‘Oil God’ Andy Hall's Final Prophecy Comes True [Bloomberg]