Amid Amaranth's Crisis, Other Players Profited

Not sure if you guys caught this article in this mornings paper, but its a pretty good description of what happened at Amaranth.

"Mr. Hunter bet big. He sometimes held 30% of contracts for gas delivery in certain months, say people who saw the trading data. His team, operating largely out of Calgary, Alberta, made a stunning $1.5 billion in six weeks last spring, mostly on energy trades. But gains that big in a single market can portend swings just as fast the other way, and in May that's what happened. His bets on gas prices years into the future backfired and dealt the fund a sudden loss of about 10%."

Shocking.