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Dah Hui Lau (David)Knowledge grows through sharing! To be the best, learn from the best! May all your dreams come true! |
Amaranth: Speculating and Trading don't Work
Posted on 10/01/2006 00:00 AM | Link | Post Comment
Amaranth plans to liquidate all of its positions, after the struggling hedge-fund firm and Citigroup called off asset-sale talks.
Amaranth, on the heels of losing $6 billion mostly from energy trading, had already sold some investments and handed its troubled energy portfolio to J.P. Morgan Chase and hedge-fund Citadel Investments. The firm said it will suspend investor redemptions for Sept. 30 and Oct. 31, according to a letter the firm sent to investors, a move aimed at giving Amaranth more time to sell some of its more illiquid positions that may be harder to exit.
To read WSJ articles:
Amaranth, on the heels of losing $6 billion mostly from energy trading, had already sold some investments and handed its troubled energy portfolio to J.P. Morgan Chase and hedge-fund Citadel Investments. The firm said it will suspend investor redemptions for Sept. 30 and Oct. 31, according to a letter the firm sent to investors, a move aimed at giving Amaranth more time to sell some of its more illiquid positions that may be harder to exit.
To read WSJ articles:
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Dah Hui Lau (David)
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