Hedge fund manager Pierre Andurand lost around $130 million in the first two months of the year

Hedge Funds

Hedge fund manager Pierre Andurand, one of the world's best-known oil traders, has started the year with large losses thanks to wrong-way bets on crude oil, The Wall Street Journal reports.

Andurand's $1.5 billion Andurand Commodities Fund lost 8.5% in January and February, or around $130 million, according to numbers sent to investors and seen by WSJ.

Andurand’s hedge fund starts the year with losses

FN Staff

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