From Reuters:David Coolidge may still be the king of U.S.
natural gas hedge fund managers but his $2 billion Velite Capital has made less
than half of last year's money while one of his biggest rivals is headed for a
loss in an unusually tricky year for traders.
In Westport, Connecticut, Todd Esse, once a star gas trader
at Sempra, is trying to avoid the first annual loss at his Sasco Energy
Partners -- which until last year was one of the best gas funds, with four
straight years of gains.
Calling prices in the $40 billion gas market correctly is
never that easy, given that it's one of the most volatile commodities after
electricity. This year has been
particularly arduous….
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