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Politics : Apocalypse soon? -- Ignore unavailable to you. Want to Upgrade?

To: Ev who wrote (1316)	2/26/2007 9:47:54 AM
From: Bucky Katt	Respond to of 2741

The smartest money in global warming stocks may be scurrying to the exit just when the enthusiasm for alternative-energy companies is at an all-time high. While SunPower Corp. and Theolia SA are among more than 180 companies whose shares have surged as much as 240 percent this year -- buoyed by efforts to curtail the observed increase in the average temperature of the Earth's atmosphere and oceans --the market's nimblest investors already are hedging their bets. D.E. Shaw & Co., Tudor Investment Corp., Citadel Investment Group LLC, Caxton Associates LLC, SAC Capital Advisors LLC and Pequot Capital Management Inc. reduced their stakes in solar- power and ethanol producers in the fourth quarter, according to filings with the U.S. Securities and Exchange Commission. The hedge funds manage about $86 billion. ``As an investment play,'' global warming is ``a bubble'' and ``social short-term craze,'' said Ken Fisher, who oversees $35 billion as chairman of Fisher Investments Inc. in Woodside, California. Anyone looking for corroboration of that assessment may find it in the so-called short selling of U.S. alternative-energy stocks last month, which climbed 45 times faster than the average for Standard & Poor's 500 Index members. bloomberg.com