Trader who sank Amaranth to start new hedge fund | Reuters.ca
This is perhaps the most audacious thing I've read lately. The idiots who ran the now defunct hedge fund Amaranth Advisors into the ground are now starting..........their own hedge fund. These are the geniuses that turned a $5 billion gain into a $2 billion dollar loss in just under a week - and they think they deserve another shot at managing your money.
Not only do they think you are so stupid as to give them your money, they want to charge the standard Hedge fund fee of 2% of assets plus a 20% performance fee. Logic has gone out the window if this fund attracts money. But hey, in the funds prospectus there is a provision that allows shareholders to meet the idiots who run the fund!!!!! I'm in.
Scott Dauenhauer, CFP, MSFP, AIF