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The Bloomberg Commodities Spot Index is nearing 2008/11 peak.
By Javier Blas, Bloomberg
3 Jul 2021 00:50
Image: Qilai Shen/Bloomberg
Doug King set up his hedge fund in the early days of the commodity super-cycle in 2004. It was perfectly timed: voracious Chinese demand lifted the price of everything from oil to copper to record highs. Investors flooded the commodities sector. At the peak, Kingâs Merchant Commodity Fund was managing about $2 billion.
But the boom ended abruptly after the 2008 global financial crisis and the onset of the US shale revolution. Prices plunged, big institutional money got out and many specialist hedge funds closed.