Oil ‘God’ Blames Weaker Outlook and Algos in His Goodbye Letter
- Andy Hall says 2018 oil price outlook has deteriorated
- Sees algorithmic trading dominating market for some time
Andy Hall, the oil trader sometimes known in markets as “God,” is closing down his main hedge fund after big losses in the first half of the year, according to people with knowledge of the matter. Bloomberg's Alex Nussbaum has more on 'Bloomberg Markets.' (Source: Bloomberg)
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Andy Hall, the oil trader known to many as "God", said he decided to close his flagship hedge fund amid a deteriorating outlook for prices next year and the “frustrating” dominance of algorithmic traders.
A renowned oil bull who shot to fame after Citigroup Inc. revealed that he pocketed $100 million from a single year’s trading, Hall struck a bearish tone in a letter to investors dated Aug. 1, which was reviewed by Bloomberg News.