Held over a barrel
Andy Hall, a British-born oil trader based outside New York, personally pocketed over $100m last year. That was his reward for astutely predicting in 2003 that oil prices would soar towards $200 a barrel. Just before prices hit $147 in July 2008, however, Hall bailed out. The 58-year-old ex-BP trader feared the consequences once Manhattan's banks began crashing. Record oil prices, he foresaw, were tipping the world into recession. Yet, as oil tumbled towards $32, the global economic crisis sparked Hall's appetite for more profits. Eagerly, he began speculating in New York and London that prices would eventually boomerang back towards $200.… Seguir leyendo »