September 19, 2006
A big hedge fund, Amaranth Advisors, is reported to have lost over $3 billion in the natural gas market. The healthy part of the story is how quickly Amaranth investors discovered the loss. Several investors investigated personally Amaranth's books to determine the extent of their exposure. The quick action of investors is very healthy and a signal that the hedge fund market is working, not that it is failing.
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