www.thestreet.com Speculation can take different forms. You can reach for big returns in far-flung lands, invest in sectors with a lot of historicalvolatility, or eschew diversification by betting all your money on a single stock.
Gazinvest, a hedge fund based in the Bahamas, does all three. The $16 million investment vehicle exists simply to bet on Gazprom, the Russian gas monopoly whose shares are mostly off limits to foreign investors. Gazinvet’s manager, GEM Global Equities Management, a $250 million emerging markets shop, claims the fund has returned 150% this year through October.
