Indiadaily.com - Is it enough to just explain how Amarnath hedge fund lost $6 Billion in natural gas bet? Where did hedging go?
Nassim Taleb spoke of this particular sort of doofus-boy.
this other article has this [fooled by randonmness] quote:
"We have every intention of continuing in business and generating for our investors the same consistently high-risk adjusted returns which have been our hallmark, and we are fully committed to doing so," Maounis said. "As a first step in the recovery process, we are eliminating energy trading from our strategy mix."
Amaranth said Thursday that its portfolio, worth $9.2 billion on Aug. 31, had lost 65 per cent in value after bad bets on natural gas prices and the subsequent sale of its energy portfolio.
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