Pierre Andurand loves oil. He practically baths in the stuff that made him rich. Thinks that gold should be called “shiny yellow crude.” He’s so devoted to petroleum that he’d rather see his hedge fund go down in flames—crowned by dense, dark, suffocating smoke—than turn bear.
Unfortunaly Andurand, his eponymous hedge fund and the investors therein, a variety of factors—including a rate bit of tag-teaming by Donald Trump and China—have oil suffering its worst couple months in some time, and Andurand therewith.
Pierre Andurand, one of the most bullish oil investors, lost 15.2 percent in July after markets sold-off, bringing his eponymous hedge fund into the red for the year, according to people familiar with the matter.
After the July loss, the oil-focused Andurand Capital Management LLP fund was down 5 percent through the first seven months of the year, the same people said, asking not to be named discussing private data….
The losses are a rare setback for Andurand, who made a name for himself by calling past gains and losses in the oil market largely right. Last year, his fund delivered a 2.2 percent return net of fees, bucking losses that hit others.
Now, if you’ll excuse him, Andurand’s gonna go pummel the hell out of something or someone with his feet.
Oil Hedge Fund Manager Andurand Lost 15% in July [Bloomberg]