Friday, March 30, 2007

Amaranth Trader Brian Hunter is Back

Earlier this morning I came across an article about the lawsuit that the San Diego Pension Fund filed against Amaranth a few days ago. One of the defendants in the lawsuit is Brian Hunter, the energy trader at Amaranth who managed to lose over $6 billions USD at Amaranth by placing big bets on the natural gas market. Hours later I stumbled across an article that blew my mind. Brian Hunter is raising capital to start a new hedge fund. The fund will be called Solengo Capital.

On top of starting a new fund, Mr. Hunter is building a beautiful new home in Calgary where Solengo will have an office.

I must say this guy has some guts, but I for one would never give him a single red cent. He may go on and on about the risk controls Solengo will have in place, but I believe he has hired Robert Jones to be his chief risk officer. Yes the same Robert Jones who was chief risk officer at Amaranth. Smart move Brian, we all know what a stellar job Bob did at Amaranth . . .

Posted by The La Jolla Guy at 4:55 PM

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