Andurand Pulls Back From Cocoa Misadventure After ‘Extreme’ Volatility Drives Losses

Andurand Pulls Back From Cocoa Misadventure After 'Extreme' Volatility Drives Losses

(Bloomberg) — Famed oil trader Pierre Andurand has pulled back from a bullish bet on cocoa after a series of mistimed trades led to deep losses, according to a letter sent to investors that was seen by Bloomberg.

Oil-Bull Andurand Got Too Greedy On Chocolate, Trims Cocoa Bets Amid "Extreme" Volatility

Oil-Bull Andurand Got Too Greedy On Chocolate, Trims Cocoa Bets Amid "Extreme" Volatility  Oil trader Pierre Andurand ventured into the cocoa trade in March 2024, initiating a long position with an upside target of $20,000 per ton. He was banking on worsening adverse weather and disease across West Africa to crimp global supplies, but prices only breached $12,000 for a short time, and as of August, cocoa prices have slumped around $8,000, forcin…

Andurand Pulls Back From Cocoa Misadventure After ‘Extreme’ Volatility Drives Losses

Famed oil trader Pierre Andurand has pulled back from a bullish bet on cocoa after a series of mistimed trades led to deep losses, according to a letter sent to investors that was seen by Bloomberg.

Oil-Bull Andurand Got Too Greedy On Chocolate, Trims Cocoa Bets Amid “Extreme” Volatility  – altnews.org

Oil trader Pierre Andurand ventured into the cocoa trade in March 2024, initiating a long position with an upside target of $20,000

Oil-Bull Andurand Got Too Greedy On Chocolate, Trims Cocoa Bets Amid "Extreme" Volatility  - Nemos News Network

Oil trader Pierre Andurand ventured into the cocoa trade in March 2024, initiating a long position with an upside target of $20,000 per ton. He was banking on worsening adverse weather and disease across West Africa to crimp global supplies, but prices only breached $12,000 for a short time, and as of August, cocoa prices have slumped around […]