Hedge Funds Hook Shipping Stocks Grappling for Recovery
Emerging recovery for segments of global shipping industry; Nordic American Tanker and Dryships Inc among popular stocks. Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial forays into shipping stocks in the third quarter of 2017, but significantly stepped up their bets in the final three months of the year, U.S. Securities and Exchange Commission filings compiled by Symmetric show. "Shipping has been in a terrible trough for a number of years," Chris Walvoord, global head of hedge fund research at investment consultant Aon Hewitt, said. "Hedge funds are starting to see opportunity ...
Oil Rebound Not Overdone, Crude in Early Bull Market -Hedge Fund BBL
Oil is in an early bull run despite the notion prices have rebounded too fast, too soon, hedge fund manager Jonathan Goldberg says as his energy-focused investment fund posts a 9 percent gain in the first quarter of this year. "Yes, the market is not as short as it was when prices were $26 (a barrel)," Goldberg, manager of the energy-focused $550 million BBL Commodities Value Fund in New York, told investors in a quarterly letter seen by Reuters on Monday. "But we think the attention around the short-covering in the oil market may be overstated," the former Goldman Sachs trader wrote. Goldberg is one of the better performers among energy hedge fund managers this year.
