Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (326906)	9/20/2006 11:31:30 AM
From: Gut Trader	Respond to of 436259

LOL...they Should call it Moral-Hazard.com or better yet Fannie-Mae. SlipperySlope@vomitorium.gov Quote of the Day.Came from CNBC (guest host) this AM. "Can't they set up an organization to help these guys unwind these positions?" Larry Bossidy, former CEO of Honeywell, on the collapse of Amaranth Hedge Fund

To: Real Man who wrote (326906)	9/20/2006 11:54:30 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436259

>>"Can't they set up an organization to help these guys unwind these positions?">> ROTFL..."They" already did. It's called "Goldman Sachs".....<NFG>

To: Real Man who wrote (326906)	9/20/2006 2:57:09 PM
From: Cactus Jack	Respond to of 436259

Couldn't they refer to it as "The Federal Reserve"? I just finished reading "The Creature from Jekyll Island" re: the Fed. Interesting read. jpg

To: Real Man who wrote (326906)	9/20/2006 3:19:16 PM
From: Secret_Agent_Man	Respond to of 436259

Amaranth sells entire energy portfolio Citadel and J.P. Morgan said to buy hedge fund's positions SAN FRANCISCO (MarketWatch) -- Amaranth Advisors LLC told investors on Wednesday that it has sold its entire energy-trading portfolio after losing more than $3 billion earlier this month in the natural-gas market. Amaranth didn't say who bought the portfolio, but a source familiar with the situation said J.P. Morgan Chase (JPM : jp morgan chase & co com : JPM47.17, +0.37, +0.8% ) and Citadel Investment Group, a big, Chicago-based hedge fund firm run by Ken Griffin, have acquired the positions. The portfolio includes natural-gas trades that triggered massive losses at Amaranth earlier this month, but also includes other types of energy positions, the person explained on condition of anonymity. J.P. Morgan and Citadel purchased roughly equal portions of the portfolio together, but are managing the risk of the positions separately, the person added. J.P. Morgan has already sold some parts of the Amaranth portfolio it bought as a way to manage risk, according to this person. "We have concluded a negotiated transaction which transfers the entirety of our energy portfolio to a third party," Amaranth Founder Nicholas Maounis wrote in a letter to investors that was obtained by MarketWatch. "Additional information will follow shortly." A Citadel representative, Scott Rafferty, declined to comment. Amaranth, which managed almost $10 billion at the start of 2006, warned investors this week that it could face year-to-date losses of 35% stemming from natural-gas losses of more than $3 billion in September. See full story. Investors are now scrambling to get out of their Amaranth investments, leaving the firm struggling to survive. See full story. The losses - the biggest since hedge fund Long-Term Capital Management collapsed in 1998 - have affected several investors including 3M (MMM :