Replies to post #1421 on Northgate Minerals Corp (NXG)

[susayre]

ezxccsc - Hedge Fund, Natural Gas

CNBC reported yesterday it was larger than the LTCM problem in the late 90's:

http://www.newsday.com/business/ny-bzamar194897510sep19,0,6320063.story?coll=ny-business-print

Hedge-fund manager faces $4.6B loss on natural gas
Bloomberg News

September 19, 2006


Amaranth Advisors Llc, a hedge-fund manager with $9.5billion in assets, told investors its two main funds fell almost 50 percent this month because of a plunge in natural-gas prices.

"We are in discussions with our prime brokers and other counterparties and are working to protect our investors while meeting the obligations of our creditors," Nick Maounis, the 43-year-old founder of the Greenwich, Conn.-based firm, said in a letter to investors obtained by Bloomberg News. The funds, which had gained 26 percent through August, are down at least 35 percent for the year, or about $4.6 billion.

[susayre]

ezxccsc - hedge fund article at Goldcorp

9/18/06 under Goldcorp Headlines at YaHoo

http://www.thestreet.com/_yahoo/newsanalysis/energy/10309512.html?cm_ven=YAHOO&cm_cat=FREE&c....

Gas Trade Burns Amaranth

By Matthew Goldstein
Wall Street Editor
9/18/2006 4:15 PM EDT

-edited-

The hedge fund reported having $2.3 billion invested in U.S. stocks as of the end of June. Several of Amaranth's big investments were Humana (HUM - commentary - Cramer's Take), Goldcorp (GG - commentary - Cramer's Take) and Sprint (S - commentary - Cramer's Take).

[raynastephany]

http://www.bloomberg.com/apps/news?pid=20601014&sid=ap72089Cqki4&refer=funds


only bloomberg had the story yesterday on line, i think Wallstreet journal has it printed today.

Quite a story :)