Abydos hedge fund prepares for Iran strike

Abydos Capital, a new hedge fund run by a former partner at one of London's most high-profile oil investors, is worried about a potential military strike against Iran and plans to use options to protect his portfolio.

Jean-Louis Le Mee, Chief Investment Officer of Abydos, told Reuters he thinks there is a 25 to 50 percent chance of an Israeli strike against Iran's nuclear capabilities, an act that would likely send stock markets tumbling and drive up oil prices, hitting hedge funds that hadn't protected their portfolios.

[...]"There's a high chance that something will happen either this summer in June/July or after the U.S. elections," said Le Mee, whose former firm BlueGold made headlines in 2008 by calling the peak of the market. "If talks break down, then the Israelis could do something very quickly.

"If Iranian production goes to zero ... it would not be crazy to see Brent prices of $170, $180, $190 (per barrel)," Le Mee, who is putting $8-$10 million of his own money into Abydos, told Reuters in an interview. The fund has raised $25 million of initial capital.

Read More

SHARE:

Email This

Latest Economy
- "Taxation is legalized form of robbery"
- The Crackdown On Alternative Currencies: Liberty Reserve Shut Down As Founder Arrested
- NYC Says Renting Out Your Place Via Airbnb Is Running An Illegal Hotel
- Should Bitcoin Be Regulated Like Dollars?
- How to Not Attack Capitalism
- How Protectionism Hurts Hawaii: Why It's Time to Repeal the Jones Act
- If It Moves, Tax It
- Taxing Internet Purchases

No Comments Posted

Add Comment

Add Comment

Name

Comment

* No HTML

Verification *

Please Enter the Verification Code Seen Below

PLEASE NOTE

Please see our About Page, our Disclaimer, and our Comments Policy.

FAIR USE NOTICE

This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the Digital Millennium Copyright Act (found at the U.S. Copyright Office) and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy