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'''[[MotherRock]]''' was an energy sector hedge fund, one of the biggest traders of Natural Gas derivatives in New York, with assets of around $430 million at one point.<ref name="Forbes">{{cite web|author=Liz Moyer|year=2006|title=Energy Hedge Fund Bites The Dust|accessdate=2007-12-19|url=http://www.forbes.com/business/2006/11/10/ritchie-hedge-fund-shutters-biz-cx_1110ritchie.html}}</ref> It closed in August 2006, the prime cause of which was attributed to the high volatility in natural gas valuations in the commodities market. |
'''[[MotherRock]]''' was an energy sector hedge fund, one of the biggest traders of Natural Gas derivatives in New York, with assets of around $430 million at one point.<ref name="Forbes">{{cite web|author=Liz Moyer|year=2006|title=Energy Hedge Fund Bites The Dust|accessdate=2007-12-19|url=http://www.forbes.com/business/2006/11/10/ritchie-hedge-fund-shutters-biz-cx_1110ritchie.html}}</ref> It closed in August 2006, the prime cause of which was attributed to the high volatility in natural gas valuations in the commodities market. |
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While the high volatility (around 10% at the time) took its toll on MotherRock, |
While the high volatility (around 10% at the time) took its toll on MotherRock, its leveraged postitions exacerbated the situation and eventually led to a loss of around $230 million in June and July, 2006.<ref name="TheStreet">{{cite web|author=Staff Reporters|year=2006|title=MotherRock Cries Uncle|accessdate=2007-12-19|url=http://www.thestreet.com/_googlen/newsanalysis/energy/10301570.html?cm_ven=GOOGLEN&cm_cat=FREE&cm_ite=NA}}</ref> |
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The fund was started by [[J. Robert Collins]], with Conrad Goerl and ex-Nymex vice president [[John D'Agostino]] in early 2005.<ref name="MarketWatch">{{cite web|author=Alistair Barr|year=2006|title=MotherRock hedge fund shutting down: WSJ|accessdate=2007-12-19|url=http://www.marketwatch.com/News/Story/91c6sWLJ6WmsdMmWBZRnWx3?siteid=google&dist=TNMostMailed}}</ref> |
The fund was started by [[J. Robert Collins]], with Conrad Goerl and ex-Nymex vice president [[John D'Agostino]] in early 2005.<ref name="MarketWatch">{{cite web|author=Alistair Barr|year=2006|title=MotherRock hedge fund shutting down: WSJ|accessdate=2007-12-19|url=http://www.marketwatch.com/News/Story/91c6sWLJ6WmsdMmWBZRnWx3?siteid=google&dist=TNMostMailed}}</ref> |
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Revision as of 16:59, 19 December 2007
MotherRock was an energy sector hedge fund, one of the biggest traders of Natural Gas derivatives in New York, with assets of around $430 million at one point.[1] It closed in August 2006, the prime cause of which was attributed to the high volatility in natural gas valuations in the commodities market. While the high volatility (around 10% at the time) took its toll on MotherRock, its leveraged postitions exacerbated the situation and eventually led to a loss of around $230 million in June and July, 2006.[2]
The fund was started by J. Robert Collins, with Conrad Goerl and ex-Nymex vice president John D'Agostino in early 2005.[3]
References
- ^ Liz Moyer (2006). "Energy Hedge Fund Bites The Dust". Retrieved 2007-12-19.
- ^ Staff Reporters (2006). "MotherRock Cries Uncle". Retrieved 2007-12-19.
- ^ Alistair Barr (2006). "MotherRock hedge fund shutting down: WSJ". Retrieved 2007-12-19.