Amaranth fallout reverberates across the Street

The after effects of Amaranth Advisors announcing gargantuan losses due to bad natural gas bets continue to rock Wall Street. With trader-on-the-spot Brian Hunter in the firm's Greenwich, CT offices, Amaranth was trying to sell off its energy portfolio, while exchange officials sought to match up losing trades with winning ones. Investors are still sitting on pins, awaiting more precise word on their losses. The San Diego County pension (not the San Diego city pension) appears to have been hit very hard by all this. A Goldman Sachs fund of funds was also buffeted. None of this is conjuring images of LTCM, as the losses seem to be very specific to the natural gas market. Still, there is a lingering nervousness--a sense that other funds have also been hit. There were, however, some winners.

For more on Amaranth:
- Here's a New York Times article
- Here's New York Post article
ALSO: Amaranth was also active in the penny stock market. Article