Hedge Fund Manager Pierre Andurand Sees a Path to $200 Oil By End of the Year (Bloomberg Quint)
(Bloomberg) — Commodities trader Pierre Andurand sees a path for crude oil to get to $200 by the end of the year as historically tight markets struggle to ramp up production and replace lost supply from Russia. He estimates some 4 million barrels per day have been taken out of circulation as a result of Russia’s invasion of Ukraine and subsequent restrictions on doing business with the Putin government. While releasing oil from strategic petroleum reserves could help boost supply in the short-term, it’s likely that the energy industry won’t be able to increase capacity to fully offset the lost barrels.
Hedge Fund Brevan Howard Enlists Behavox for Compliance Solutions (Hedge Week)
Hedge fund firm Brevan Howard Asset Management has partnered with Behavox, a provider of a suite of security products that help compliance, HR, and security teams protect their organisations and colleagues. Elwood Technologies Services Limited and Coremont LLP, which are affiliated with Brevan Howard, will also be part of the Behavox deployment. Elwood provides an end-to-end crypto trading platform to financial institutions and Coremont provides portfolio management services.
Billionaire Investor Leon Cooperman Says Stocks have Further to Fall, as the Ukraine Conflict and the Fed Shake Markets (Business Insider)
Leon Cooperman said stocks have further to fall as the Ukraine war and the Fed rock markets. The S&P 500 has fallen sharply this year, but the billionaire investor still thinks it’s moderately overvalued. Despite his pessimism, Cooperman told CNBC stocks remain “the best asset in a bad neighborhood.” Billionaire investor Leon Cooperman believes stocks have further to fall, as the impact of the Ukraine conflict and central banks’ monetary policy shakes markets.
Photo by Nicholas Cappello on Unsplash
Billionaire John Paulson Sells Stunning NYC Mansion for $20M Under Ask (New York Post)
Hedge fund billionaire John Paulson is still in the midst of a messy divorce — his estranged wife, Jenny, apparently learned that he filed while reading Page Six — and maybe that’s why he sold a stunning Upper East Side condo for $5 million, which is far less than its $24.5 million asking price in 2013. The condo unit, which once operated as an art gallery, is at 11-15 E. 70th St., a landmarked limestone mansion that has been transformed into an exclusive boutique condo beside the Frick Museum. The French Classical mansion was built in 1910 by Charles I. Berg.
Deutsche Bank’s Most-Liked Trader Living Best Life in Hedge Fund (eFinancialCareers.com)
When Yao King left Deutsche Bank in 2019, it was cause for commiseration. King, who was the global head of program trading at Deutsche Bank back in the day when DB still had an equities business, was a popular figure on the trading floor and was known for his generosity in dispensing things like pizza to colleagues. Since leaving DB, however, King’s existence seems to have become considerably more wholesome. These days, he’s both a portfolio manager and a farmer. King left Deutsche for Millennium Management. Even before the pandemic, Millennium had a reputation for allowing its employees to work from anywhere.
