The obvious response to climate change (from the point-of-view of a Wall Street investor)!
While others were stockpiling water, flashlights, and board games in preparation for Hurricane Irene, the hedge fund Tudor Investment was crunching numbers.
Paul Tudor Jones' investment firm employs a weather derivatives analyst.
Weather derivatives are fairly new, the first one traded in 1997 and the CME introduced the first exchange-traded weather futures contracts in 1999.
The main buyers aren't hedge funds, they are insurance companies, farming conglomerates looking to insure against freezes and bad crops, electric companies, etc.
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