This could have something to do with it. This report from Bloomberg says Us Treasury prices are going down due to "oversupply". Whoda thunk it?
http://www.bloomberg.com/apps/news?pid= ... refer=home
(Still can't figure out how to make a short link.)
Wallace Absolute Fund Dumps Founder After 95% Plunge By Malcolm Scott
March 27 (Bloomberg) -- Richard Wallace has been ousted from the hedge fund he founded after the Sydney-based listed asset manager made losing bets throughout the financial crisis. ... skip ...
The fund reported a net loss of A$28.3 million ($19.9 million) in the six months to Dec. 31 after it didn’t “adequately hedge” and “was too highly concentrated in illiquid stocks,” it said in its earnings report last month. The fund’s shares have lost 63 percent on the Australian stock exchange this year after plunging 81 percent in 2008. ... snip ...
LONDON (Reuters) Sep 3, 2012 - Hedge funds and other money managers have started to ready themselves for another big spike in oil prices in the next few months, according to positioning data from the U.S. Commodity Futures Trading Commission (CFTC).
By August 28, hedge funds had accumulated a net long position in WTI-linked futures and options equivalent to 207 million barrels, up from 151 million a month earlier, the largest net long position since May.
The accumulation of net long positions exactly mirrors the build-ups of hedge fund positions between October 2011 and March 2012 (when U.S. crude prices rose from around $75 to $110) and earlier between November 2010 and May 2011 (when U.S. prices increased from around $75 to $113) (Charts 1 and 2).
For the time being, a clear majority of hedge funds and other money managers believe crude prices are set to rise further, before any hit to the economy and demand destruction sets in or policymakers intervene.
Warren Buffett's company has dropped its stake in Intel (INTC) and added new investments in National Oilwell Varco and Phillips 66. In the three months ending June 30, Berkshire dropped all of its 7.7 million shares in Santa Clara-based Intel. It bought 2.8 million shares in National Oilwell Varco and 27 million shares in Phillips 66.
Why is Buffett suddenly unloading so many iconic stocks and taking this turn into the energy sector?
We won't know the reason, of course, until his widely-read letter to shareholders is released in late February. But new research released last month suggests oil prices are about to skyrocket.
In a newly released documentary that went viral last month, a team of influential economic experts say they have discovered a "frightening pattern" they believe points to a massive oil crisis unlike anything ever seen in the history of the world.
And according to these experts - who have presented their findings to the United Nations, the UK Parliament and a long list of world governments - the catastrophe may happen well before Americans hit the polls in November.
"What this pattern represents is a dangerous countdown clock that's quickly approaching zero," said Keith Fitz-Gerald, the Chief Investment Strategist for the Money Map Press, who predicted the 2008 oil shock, the credit default swap crisis that helped bring about the recession, and the Greek and European fiscal catastrophe that is still wreaking havoc until this day.
"The resulting chaos is going to crush Americans."
pstarr wrote:autonomous wrote:Buffet is moving into oil as well:In a newly released documentary that went viral last month, a team of influential economic experts say they have discovered a "frightening pattern" they believe points to a massive oil crisis unlike anything ever seen in the history of the world.
OMG Is this the END TIMES we fear? Is it an alien invasion of communist in-roaders set to steal our American Way of Life? Could it be PROPHECY? Nah. Just peak oil.
Ugh. Just watched this whole thing. It was an infomercial. Like they were peddling doom on the street corner. Complete with the fake conversations, you must act now, and the "100% free" wares, that is not really 100% free after all.autonomous wrote:http://moneymorning.com/ob/buffett-now-set-for-huge-oil-spikes/
kublikhan wrote:Ugh. Just watched this whole thing. It was an infomercial. Like they were peddling doom on the street corner. Complete with the fake conversations, you must act now, and the "100% free" wares, that is not really 100% free after all.autonomous wrote:http://moneymorning.com/ob/buffett-now-set-for-huge-oil-spikes/
Oil tycoon T. Boone Pickens is throwing in the towel on his energy focused hedge fund after a 22-year-long “roller coaster ride.” “It’s no secret the past year has not been good to me, from a health perspective or a financial one,” Pickens wrote in a Linkedin post Friday, referring to the series of strokes and bad fall he suffered from last year. “If you are lucky enough to make it to 89 years of age like I have, those things tend to put life in perspective,” Pickens said. And the energy market has not been kind in recent years. Oil prices — though rebounding — have yet to return to their July 2014 peak of more than $100 a barrel. Pickens launched BP Capital in 1996, when he was 68 and already a legend in this industry. He said running the fund was
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