Talk:Bridgewater Associates
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[edit] saranac hedge fund closes
Saranac Capital Mgt hedge fund was managing $ 3.2 billion only short time ago by Citibank star trader Ross Margolies but lost down to 600 million and closed it doors in May 2006... bringing back memories of Long Term Capital of Greenwich which wiped out about a decade ago....
[edit] Haligannis chemo hedge
Hedge fund manager Haligannis on the run & kept alive by chemotherapy [http://www.nypost.com/business/run_angelo_run_business_paul_tharp.htm Chemo hedge network]
[edit] Amaranth Advisors
Hedge fund Amaranth Advisors lost reported $3 of its 9 billion on unhedged gas spread (noting a spread is supposed to be a hedge, but actually not as this example and 1000s more examples of huge losses on spreads, attest)
Amaranth hoping to sell its "energy book" and other positions to stay in business - asking 30-40 cents on the dollar ; proffered 10-20 cents on the dollar ... Amaranth reports $6 billion loss (so far, of its orginal $ 9.5 billion) in sale of its gas/energy positions to Citadel etc See Amaranth $6 billion hit
Amaranth to close after losing $6.5 of 9 billion on unhedged gas bet
Note: Amaranth "well credentialed & experienced" "risk managers" vetted the gas bet indicating such risk managers even with larger paper experience simply do not have any clue about wide ranging, different markets. So risk management can be a joke. Query: where was the hedge in hedge fund that wipes out as this ?
When returns of 10-100x per year are easily obtainable with ZERO risk, why do these clown level, hedge fund managers eke out returns of 25 % with massive, massive fund betting & ending losses hoping to make an extra 10% ?
[edit] Bizarre
Bizarre , unthought out market theories and positions, continue to roll in billions for hedge funds, where no market pro would ever consider them a moment.
