They say it’s a good idea to check in on elderly loved ones during the hot summer months. And after the rough spring they had, it’s probably also a good idea to check in on loved ones managing equity hedge-funds.
The net-long position contracted to the lowest since mid- February as speculators sold bullion on signs of accelerating U.S. economic growth. The investors more than doubled bets on lower prices in the past month
Hedge funds reduced bullish bets on gasoline by the most since June as stockpiles surged to an 11-month high before a cold blast that probably will curb demand in the U.S. Midwest and Northeast.
John Taylor, the founder of what was once the world’s biggest currency hedge fund, said he plans re-enter the foreign-exchange asset-management business again one day in the wake of the bankruptcy of FX Concepts LLC.
