Major fund closes...

Quote from mokwit:

edit "The losses were primarily caused by a substantial sell-off in a number of our energy, mining and
resource equity holdings"

Ospraie typically had exposure to commodities as much through a lot of holdings in listed commodities producers as it did in derivatives - as do many commodity funds, especially those of a certain size and pension fund friendly risk profile.
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My bad.
I just researched further and found the same.
 
Quote from Maverick1:Can you imagine having those kinds of resources at your fingertips (including flying to whereever you want when you want) and still blowing up? :eek:
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They probably also had all upper scale brothels worldwide at their fingertips during their 'research travels'. Imagine the wealth of information (and entertainment) :cool:
 
Quote from dtrader98:

Always wondered what would have happened had they not resorted to opening the books out of desperation. But it also tells you a little bit about how wall street operates and the ephemeral nature of success in the markets.
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well, when you're dealing in the size of LTCM, you tend to go through certain brokers.

and they KNOW your positions when you're the big dog.

now, when you start going against those positions, what do they do? they bet against you...and tell their friends....and so on, and so on, and so on.
 
Last time I looked when commodities prices go down so do the stocks associated with the commodities. Oil goes down, exxon goes down, gold goes down, barrick goes down. So yes it is possible that the indexes were impacted today, since I am sure he was selling before tonights anouncement.


He lost 28% in Aug, so I would assume that the fund was leveraged and the assets to sell are much more than the 2.8b
in the fund...


Quote from Landis82:

Ospraie is a commodities fund.
They have nothing to do with equities.
They are 20% owned by LEH.
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Hmm seems those numbers at Yahoo are wrong, e.g. XLE closed Dec 31 at 79.35 and closed Sept 2nd at 70.55, approx. -11%.

Even if you factor in dividends it doesn't make much difference. Wonder how Yahoo derives its numbers.
 
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