Hedge Fund Owner Buys Billion Dollars Worth of Chocolate

2We were pretty sure that no one liked chocolate more than we did. We were wrong. Really wrong. Last week, the head of a British hedge fund bought a billion dollars worth of cocoa beans on the futures market. We’ve written previously about how cocoa beans are traded on the futures market, to refresh your memory check out the blog post on cocoa bean trading. Not only is that an insane amount of chocolate, he did something that is almost never done. He actually took delivery of all those cocoa beans!


Normally when people buy cocoa on the futures market, they sell their contract before they actually get the cocoa beans (if you’re confused, don’t worry we were too.) Anthony Ward, however, actually received all billion dollars worth of cocoa beans. That is 240,000 tons of cocoa! Mr. Ward bought so much chocolate that he’s earned himself a new nickname ‘choc finger’ after the famous James Bond movie character ‘Goldfinger’.


We were trying to come up with ideas of what we would do with all the chocolate. The best thing we could think of would be to declare a national Chocomize day of celebration and give everyone free chocolate. I doubt that this is what Anthony Ward is planning on doing (he’s hoping that the price of cocoa beans will incease so he can sell all his cocoa at a profit.) Either way it’s hard for anyone NOT to be jealous of someone with all that chocolate. I guess we’ll have to just go eat some Chocomize bars until we feel better…


Nick

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