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Debashis Basu points out the lessons for a trader in Amaranth’s $6 billion blow up
In late September and early October, Amaranth Advisors, a US-based hedge fund went under. It had a large exposure in the natural gas futures market and was wrong-footed when gas prices tumbled. The total loss? A humungous $6 billion. The hedge fund lost that money in just one week. The trader who took the firm...
