A $750 million hedge fund manager shares the 4 things he’s watching as energy markets teeter
Jeffrey Baird, Managing Partner of Merritt Point Partners Merritt Point Partners Oil markets have avoided catastrophe after six months of war, but the situation is becoming grim. An expert commodities trader explained the four things he's watching, and what's kept prices down. The situation going forward is even more uncertain, said Baird. Shortly after the US military's late February strike on Iran and the following Strait of Hormuz blockade, oil seemed poised to reach record heights if the war continued. Instead, the oil markets have settled at an expensive —but not catastrophic — $100-ish a barrel, much lower than what hedge fund manager Jeff Baird would have expected after six months of war. Baird has spent 25 years trading commodities and runs Merritt Point Partners, a $750 million hedge fund specializing in the asset class. Their general commodity strategy, which uses a range of long and short options across a variety of commodities, has returned over 16% in the last...
