SemGroup, a large US private equity company that went bankrupt last year, lost most of its money with a "No-Loss" trading strategy. Did they think that if they named it that, it would make money no matter what?
They lost piles of money as the price of oil made a big run and they were effectively short. There were also a few executives making shady moves and doubling down as positions began bleeding.
About Me
- AAR
- Calgary, Canada
- I work in the energy industry doing quanty-type stuff. I think about economics, smoke cigars, read about finance and science, ride bikes and follow Formula 1.
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