Top Hedge Fund Gains 400% as China Battles Commodity Prices
- Regan Group sees fund gain 125% in May with pork, rebar bets
- Surge in prices threatens to derail China’s economic recovery
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When China’s government started paying more attention to surging commodity prices a few months back, hedge fund manager Richard Lee’s trading models told him a correction was imminent.
Inventories of reinforced steel bars, a key construction material, started rising before the arrival of the summer slow season, and China’s State Council had warned repeatedly on price increases, he said in an interview.