Nuclear-powered Thunder tops the AR database in October
November 12, 2010
Suzy Kenly Waite
Richard Greene’s Thunder Capital made impressive gains in October from investments in three Canadian uranium mining companies.
In October, Thunder Capital Management’s bets on uranium mining companies earned the small Clearwater, Fla. hedge fund the top monthly return in the AR database. The firm’s Thunder Energy Partners Fund rose 28.2% for the month.
Uranium, the chief element used in civilian nuclear power plants, is currently trading at $57 a pound, and due to an increased demand for the element around the world as more power plants are being constructed, founder and portfolio manager Richard Greene believes the price of uranium will continue to rise.
Operating with this view, Thunder gained another 23% through November 11. Still, the year has not been easy for the firm, which manages less than $10 million and has been down seven out of ten months in 2010. Thunder...
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