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Benedicte Gravrand, Opalesque Geneva:
John D. Arnold, who founded energy-trading hedge fund firm Centaurus Advisors, LLC in 2002 with $8m, is retiring and closing down his fund.
Arnold, 38, said in a letter to investors that he planned to close the firm’s flagship, the Centaurus Energy, LP. Fund and pursue philanthropic interests. He and his wife founded the Laura and John Arnold Foundation, which strives to help implement social reforms.
"After seventeen years as an energy trader, I feel that it is time to pursue other interests," Mr. Arnold wrote. Before founding Centaurus, he was a star energy trader at Enron. Enron Corporation was a large American energy, commodities, and services company based in Houston, Texas, which went bankrupt in December 2001 after an accounting fraud had been found out. The scandal influenced the creation of the Sarbanes-Oxley Act of 2002.
Houston-based employee-owned Centaurus invested in derivatives such as futures, options, and OTC swaps for commodities such as power, coal, natural gas and crude oil . The hedge fund is famous for having bet against Am...................... To view our full article Click here
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