Archive for August, 2010

Cocoa’s Drop Pressures a Big Wager

| August 27, 2010 | 0 Comments

By GREGORY ZUCKERMAN And LIAM PLEVEN Mr. Ward’s Armajaro Holdings Ltd. shook up the commodities market in July by buying a $1 billion cache of cocoa, enough to make 15 billion Hershey’s milk-chocolate bars. But since Mr. Ward made his audacious bet, cocoa prices have dropped 26%. Two hedge funds run by Armajaro, including its […]

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Firm Makes Bold Bet on Falling Prices

| August 26, 2010 | 0 Comments

A Wager by Fairfax Financial Risks $174 Million. If Deflation Arrives, It Could Be Worth Billions. By GREGORY ZUCKERMAN A Canadian insurer is turning to a seldom-used strategy to make a big wager on falling prices over the next decade. Greg Zuckerman discusses a Canadian insurer that has wagered on derivatives that profit from a […]

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Pellegrini’s Hedge Fund to Return Money to Investors

| August 21, 2010 | 0 Comments

Paolo Pellegrini, the investor who helped hedge-fund manager John Paulson score more than $15 billion of profits betting against risky mortgages, is returning money to clients of his own hedge fund after suffering losses this year. Mr. Pellegrini’s PSQR Capital has lost about 11% so far in 2010, according to a person close to the […]

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