Great, great tick-tock on Bloomberg about the Amaranth meltdown. No big surprises, but lots of new detail that fleshes out how over-concentrated bets, young and inexperienced traders, indecisive executives, and an over-large fund conspired to cause the biggest hedge fund meltdown ever.
As an aside, in this industry where no failure ever really locks you out of the business, Calgary-based Amaranth head energy trader Brian Hunter is already planning his return:
In Calgary, Hunter is still building a new home for his
family, and people familiar with his plans say he’s talking about
getting back to trading.“He will find a way to get involved again,” says former
Deutsche Bank colleague Stanziale. “Otherwise, it would be too
much intellectual capital wasted to have him on the sidelines.”
Related posts: