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Eric Sprott Lost 8.6% in June

Canadian energy hedge funds were slammed in June. The reason is simple- they aren’t really hedged. Eric Sprott’s flagship fund lost 8.6% in June. Other well-known Canadian energy funds didn’t perform any better. Rohit Seghal’s Dynamic Power Hedge lost 5.1% in June and 16.5% during the first six months of 2011.

Warren Buffett

One of the worst performers among Canadian energy funds was Front Street Capital. Front Street’s energy fund lost more than 17% in June. Salida Capital’s energy fund was also among top losers, falling 9.3% in June. Btw, Salida Capital paid $1.7 Million in 2009 to have lunch with Warren Buffett.