Trader who lost $9bn bounces back

Financial Times – Brian Hunter, the trader who was blamed for the collapse of $9bn hedge fund Amaranth Advisors two years ago, has taken ­advantage of last month’s plunge in commodity prices to help propel the year-to-date return at the fund he now advises to 230 per cent.

The Peak Ridge Capital Commodities Volatility fund, which Mr Hunter advises, returned 24 per cent in July as commodities prices fell 10 per cent for the month.

The prices were down 19 per cent from their peak on July 3rd – the biggest monthly decline since March 1980, measured by the Reuters-Jefferies CRB Index.

Slumping demand and steadily rising inventories sent the prices for contracts ranging from oil to soyabeans plunging in July, suggesting that the six-year-old commodity bubble may have burst.

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