Platinum: the easy money has been made

Hedge fund offers mid-year reflection

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Markets have offered investors an unusual cocktail throughout 2014. From equity momentum sectors to foreign exchange, consensus trades have significantly disappointed. Large-scale monetary policy changes appear to be underway, but the absolute change in asset prices has been muted. Continued all-time low volatility levels for rates, credit and equities have masked significant intra-month movement. The second quarter has continued the whipsawed price-action seen in the first quarter, with nota