One of the most talked-about trends in energy markets over the past two years has been the steady growth in hedge fund entrants. While gauging the exact extent of their involvement is almost impossible, the fact that speculative positions in US oil futures doubled between January 2003 and the middle of last year is a good indication of a growing presence of hedge funds in energy markets both on and off exchange.
But tough times are predicted for the $1 trillion hedge fund industry in 2005.
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