How do you lose $5 billion in one week?

This confirms that "wanker monthly" officially sucks ass.

Would be cool to run a book on which of their next "rising stars" blows up 10 figures in 1 week.
 
Quote from crazy_trader:

Why did they need to liquidate their position? Expiration, clients pulling out money...
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in order to meet margin calls; they were leveraged 5/1 on the gas trade and had the whole equities/convertibles portfolio leveraged as well.
 
imagine how much embarrassment and frustration he must be feeling. He was a rising star and now, probably no Hedge fund will look at him after this.

He would make an awesome retail trader though. Maybe he could come to my house and teach me a few things :D .
 
Quote from cashmoney69:

After the first billion or two, wouldn't something go off in your head telling you "GEE!, maybe I should get out of my position".

Does he still have his job with them?, if so thats amazing. He'll probably be in the "30 under 30" this coming issue.
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You can't get out of the position when you're half the open interest.
 
Quote from cashmoney69:

After the first billion or two, wouldn't something go off in your head telling you "GEE!, maybe I should get out of my position".

Does he still have his job with them?, if so thats amazing. He'll probably be in the "30 under 30" this coming issue.
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Amaranth is closing. Hunter is 32yo.
 
Quote from mahras2:

Don't then still have 3-4 billion under AUM? Or did all investors redeem shares?
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Yes, I believe it's locked at something > $3B based upon the Citadel deal. Maounis would be an idiot to run a fund >$5B under high water. Anyway, Amaranth has stated publicly that they're liquidating.
 
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