Posted on 23/09/06
It looked like a hedge fund
GREENWICH, CONN. -- A week ago Friday, top officials at Amaranth Advisors LLC gathered their troops and confirmed what many in the financial markets had already begun to suspect: that the $9-billion (U.S.) hedge fund had made a series of disastrous bets on natural gas prices; that these bets could ultimately cost the firm a considerable amount of its value; and, most ominously, that it would require a grim struggle merely to survive.
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