Crusading against the commodities price hike

Mon Jun 2, 2008

Michael Masters of Masters Capital Management blames high prices on index speculators

Two months ago, circumspect hedge fund manager Michael Masters penned an e-mail to friends in which he decried the pernicious effect that high commodity prices, particularly oil, were having on the lives of ordinary Americans. More importantly, he offered a detailed analysis of the speculation by institutional investors that was contributing to it.

Now, Masters, who since 1995 has quietly been running Masters Capital Management, a $277 million long/short equity hedge fund out of the Virgin Islands, has testified before a Senate subcommittee and made it onto the CBS evening news by crystallizing into plain English what many Americans had only suspected: that Wall Street is responsible for the pain they're feeling at the pump and in the grocery store.

Michael Masters

Masters' original e-mail made its way to Washington, where it landed in the office...

ISSN: 2151-1845 / CDC10004H

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