More than two weeks ago we mentioned that wild swings in the price of natural gas futures were crushing a Houston-based hedge fund. That fund turned out to be Saracen Energy. The fund supposedly took a short position in March 2009 gas futures and long April 2009, and got crushed between the trades as the prices fluctuated wildly.
So how much did Saracen lose? Reuters put the losses at $400 million. Platts had said $700 million. Now Energy Hedge, a hedge fund newsletter, reports that the fund may have lost 41% of its assets in the trade. According to a 2006 report, Saracen had a market value of $1.4 billion. The newsletter notes that Centaurus is also said to have lost money on natural gas trades this winter.
Dillon Panthers’ head coach Eric Taylor declined to comment about whether Saracen would be fit to play in the state finals.
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Lets just hope Riggins is “fit” to play in the state finals.
You seem to have a hard on for Centaurus. Did you own Enron stock?
Speaking of Rigs – Bess why did this post (and i know JC wrote it) not come with a picture of Tim Riggins attached to it …..?
As long as Smash is fit- The Panthers are all good… Saracen seems to be waining these days
I owned the very shares JA had short. Not happy about it :)
7 years ain’t that long johnny boy…