A Prudent Retreat from Commodity Speculation

The particulars, as revealed in a filing with the Securities and Exchange Commission, indicate a deliberate, if understated, retreat from a position that, while not inconsiderable, no longer appears to align with the firm’s evolving assessment of the market. The quarter-end valuation, diminished by both these sales and the vagaries of price fluctuations, suggests a certain circumspection regarding the future performance of commodities.








