I have always been amazed when ships bang into things even today. It surprises me that whilst only travelling at jogging pace with unlimited visibility and the benefit of radar that they still seem to manage to hit things be it another boat. Which must be harder because it is also moving. Or simply trying to drive the damn thing into an oval as our friend below.
Interestingly, I thought about the issue with big fat boats when reading this piece.
Renowned oil trader Andy Hall suffered his second-biggest monthly loss ever in July in a “brutal month” that left his hedge fund about $500 million poorer, telling investors he failed to anticipate a sudden market shift that roiled crude.
Hall’s Astenbeck Capital Management in Southport, Connecticut, was the latest commodity fund to be hit by plummeting crude oil prices, following two funds closing last week.
Astenbeck posted a 17 percent loss for last month and a 15 percent decline on the year after the July selloff triggered by record pumping of oil by Middle East producers, higher U.S. crude stockpiles and China’s stock market collapse.
For your edification I have posted a weekly chart of crude oil – what direction do you think it has been going in for the past year?
It would seem to me that not only was God-trader Andy not looking out the window he must have had his head in the glove box and foot flat to the floor.