The Secret Club That Runs the World by Kate Kelly

Author:Kate Kelly
Language: eng
Format: epub
Publisher: Penguin Group, USA
Published: 2014-05-20T16:00:00+00:00

He spent the next few months preparing to launch his new hedge fund. Depending how well the fund-raising went, he was willing to put up to $100 million of his own money into the business, but he hoped some of his old investors would support the new venture. To help attract them, he had offered to forgo his own cut of the new fund’s profits until they made back any money they’d lost at BlueGold—a move known in the hedge-fund business as transferring the high-water mark. It was a tough standard to meet, but money managers at Citadel, the large Chicago fund group, had recently done it, and Andurand figured he could too.

Over lunch at Ladurée, the tearoom at Harrods, in late September 2012, he appeared tanned and rested from a recent vacation along the Italian coast. He had already secured a single $100 million account for his new company, Andurand Capital, he explained, and planned to start trading that cash within a couple of days.

The oil market had had a volatile week, with a sharp move downward that took traders by surprise. Andurand, however, had not been following the news of late and had no theories yet on what had happened. He said he’d probably read the latest crude research over the weekend in preparation for Monday.

“I need to start making some money again,” he said with his most modest smile. A few months later, he was back in front of a terminal on Brompton Road.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.