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Brian Hunter is now the king.
If the numbers reported are correct, Amaranth lost $5 billion in less than two weeks. Wacky!
Choice quote in the WSJ today by Nick Maounis about Brian Hunter..."the really really great thing about Brian is he takes controlled and measured risk."
As good ole Buffett says..."A long string of impressive numbers multiplied by a single zero is zero."
They went from a 22% gain to a 35% loss in a few days betting the difference between natural gas futures price in summer & winter would continue to widen. It didn't.
Long Term Capital Management faced paper losses of $2.5 bn before the fed came to the rescue. Where are the shockwaves this time?
One small difference - Hunter's trades were authorized and legal. Leeson's weren't.
Quote:
Originally Posted by Hayduke
depends on how much they were levered and how their lenders hedged themselves
HEDGE FUNDS....BAAAAD.....SCAAAARYY :rolleyes: