September 19, 2006

BROTHER, CAN YOU SPARE GEORGE SOROS A DIME?:

U.S. hedge fund walloped on bad gas bet (JOHN PARTRIDGE, 9/19/06, Globe and Mail)

A major U.S. hedge fund with strong links to Canada appears to have lost about $3.3-billion (U.S.) -- 35 per cent of its capital -- after betting the wrong way on plunging natural gas prices.

Never let a Malthusian control your money.

Posted by Orrin Judd at September 19, 2006 9:04 AM
Comments

Between this and a likely El Nino brewing in the southeastern Pacific, NatGas prices of $2/cubic foot are not out of the realm of possibility.

I just hope the State of Wyoming has placed a large chunk of that $2 Billion surplus in a decent trust fund, for harder times may be coming just as quickly as the good times came.

Posted by: Brad S at September 19, 2006 10:01 AM

The real question is will Bernake ride to the rescue like Greenspan did?

Let it fail. The rich can afford it.

Posted by: Sandy P at September 19, 2006 10:59 AM

They better hope the Farmer's Almanac is right about this year being a cold winter, though if the natural gas prices edge back up because of above-normal consumption, after falling before the election, the conspiracy theorists will be in full tinfoil had mode by January.

Posted by: John at September 19, 2006 11:57 AM
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