Hints and tips:
...Prominent relative value hedge funds, such as Platinum Grove and JWM Partners, have shut down, while banks – once big-time players of relative value trades thanks to their deep pockets and ready access...
...In other words, the USO held sway over the market, i.e. these funds (USO, S&P GSCI et al) are artificially skewing the front of the NYMEX curve; putting downward pressure as they sell a massive percentage...
...Argent Classic Convertible Arbitrage Fund L.P. v....
...The main fund of Platinum Grove, set up by former LTCM partner and Nobel prizewinner Myron Scholes – of Black-Scholes option-pricing formula fame – lost 11 per cent, as did the main fund of London Diversified...
...The approach adopted by Blackstone et al does not entirely fit this model. These are controversial listings in some respects, but are a relatively easy sell....
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