Casino capitalism

Weep for the poor Amaranth traders in Greenwich and Calgary. They are most unlikely to receive any performance fees this Christmas after their massive bet on natural gas prices backfired. So far this year their funds are down over 35%. From a peak of $9,2bn at the end of August, an incredible $4,4bn has been lost. It’s going to be really hard to make up the lost ground. Hang on a second. Something’s wrong with this script. Amaranth will still presumably get its management fees this year. And it ...