View Full Version : Cornering the cocoa market

07-29-2010, 08:44 AM
Strange stuff what some people will try to do to get mega rich

To some, he is a real-life Willy Wonka. To others, he is a Bond-style villain bent on taking over the world’s supply of chocolate, Julia Werdigier and Julie Creswell write in The New York Times.
In a stroke, a hedge fund manager here named Anthony Ward has all but cornered the market in cocoa. By one estimate, he has bought enough to make more than five billion chocolate bars.
Chocolate lovers here are crying into their Cadbury (http://topics.nytimes.com/top/news/business/companies/cadbury-plc/index.html?inline=nyt-org) wrappers — and rival traders are crying foul, saying Mr. Ward is stockpiling cocoa in a bid to drive up already high prices so he can sell later at a big profit. His activities have helped drive cocoa prices on the London market to a 30-year high.

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