Credit Suisse Group trader Patrick Ayash rarely reads earnings estimates and just skims news about inflation. One thing he never misses: the daily weather report.
Ayash, 31, is part of an army of mathematicians, hedge-fund whizzes and programmers pouring into the $19 billion market for weather futures, financial instruments tied to everything from storms over Kansas, an early frost in the Netherlands, or a frigid spring in New York.
You may have picked up on our fascination with all things Enron. There are two reasons. First it was a really big fraud. Regular readers know we are suckers for a good fraud story.
Second, so much of the alt-energy, Kyoto politics, cap-and-trade etc., etc. has some tie to ENE.
Tandem or dual hat tips: WSJ.com's MarketBeat for pointing us to to Infectious Greed.
(I know it's on our blogroll, I hadn't gotten there yet, sorry)