I read the same thing empee and came to the same conclusion.
This appears to be what he does in laymans terms (as I see it):
sell options ---> make money to run business and to pay for otm options
buy otm options -----> make money once a 6 or 7 sigma event occurs.
To what extent...
These firm put like 3% of their capital in HFs and 1% in VC. They are not "exposed".
http://www.calcsea.org/president/pension_attack/20050322-pension-nctimes.asp
Seems like a good fund to me.
Amaranth should rename itself Aftermath Advisors
If markets are efficient why is it possible to create a losing or winning system that has returns more than several standard deviations away from the market return as a whole?
The answer : Because markets are not efficient
http://workingtorontojobs.canada.com/texis/jobsearch/details.html?id=45134da96d67e0&q=trader&qMiles=10&pp=25&view=1&page=1
Looks like they are hiring Hunters replacement.
I wouldnt rely on icahn to be right all the time. His IMCL holding looks like a serious mistake, with the company being sued by several different parties in the discovery and manufacturing of Erbitux.
IMCL is a sinking ship regardless of the captain.
The whole thing seems fishy because only one position is large in the equity portion is large, and its SPYs. There is no position showing Cinram, which I have read is some big position that Amaranth had.