CNBC – The Commodities Futures Trading Commission will seriously consider imposing strict position limits on traders placing bets on energy contracts, and that’s just fine with hedge fund manager Mike Masters.

The head of Masters Capital Management blew the whistle on oil speculators last year when he testified before Congress regarding the rapid run-up in oil prices as it reached its record high of $145 a barrel. He is scheduled to testify at the CFTC hearings Aug. 5.

Masters, whose long/short equity fund manages approximately $1.06 billion according to data provider IPREO, believes stringent limits on commodities trading would work.

Read Complete Article

Tags: capital-management, cftc, cnbc, commodities futures trading, commodities trading, commodities-futures-trading-commission, data-provider, energy contracts, equity-fund, futures-trading-commission, hedge-fund-manager, ipreo, long short equity, mike masters, oil prices, oil speculators, position limits, rapid run, stringent limits, whistle