Amaranth Gets Hammered By Natural Gas

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Bad bets on natural gas have led to giant losses at Amaranth Advisers, CNBC’s David Faber is reporting this morning. Until August, the Greenwich, Connecticut hedge fund so its assets grow 22% this year, to around $8 billion. Now its natural gas trading has the fund down 35% . Faber also reports that Amaranth is in the process of unwinding its natural gas positions and has thus far made all margin calls. So despite outsized losses, it isn’t yet completely melting down.
The energy trading desk at Amaranth has been led by Brian Hunter since Harry Arora left the fund in March of this year.

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