Vola la volatilità
T Boone Pickens, founder of BP Capital LLC, said 15 percent of holders of his fund have asked for the option to withdraw funds by the end of the year. The Wall Street Journal reported last week that Pickens was having his worst performance in 10 years, with the fund losing about $1 billion. Goldman Sachs Group Inc. maintained its three-month crude oil price target of $115 a barrel and said price volatility will increase in the fourth quarter. “We continue to believe that prices will move higher by the end of this year, but the path is likely to be extremely volatile, given the low level of U.S. inventories against a backdrop of financial and demand concerns”, Goldman analysts, including London-based Jeffrey Currie, said in a report dated yesterday. by B.
