Andrew Hall is the trader who made one of the most accurate forecasts for oil – and cost as well as time. Hall became famous very bold solutions that take advantage of their ideas to speculation in financial markets.
The bursting of the Internet bubble in the late 90s led to a significant decline in the US market in the period 2000-2003 year. The question is not only what will happen to the US economy, but also with the raw material that moves it – oil. 2003 black gold traded at around $ 30.
Andrew Hall also extremely bold prediction that up to 5 years one barrel will be traded for over $ 100. Moreover – Hall is so confident in its forecast that invest in financial products it chooses structured so that if just 5 years oil reaches $ 100, he will lose everything. Eventually oil level passes $ 100 a barrel nearly five years later in early 2008. Andrew Hall receives a bonus of $ 100 million from his employer Citigroup for successful idea. We can only guess how much has earned the bank itself from the idea and the courage Hall.
A year later, Hall once again relies on expensive oil. This time the raw material has dropped significantly due to the global financial crisis. Hall again surprised his colleagues with the decision not to buy oil futures, as most investors, and be filled with real oil. He buys and holds in store 1 million barrels of oil a true, arguing that it would be more advantageous option.
Andrew Hall is a brilliant speculator and deservedly took second place in my ranking of the best traders of all time.