Think You Lost Some Money – Try a $3 million Loss
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Posted only for the simple fact that the hedge fund trader is from my hometown of Calgary and actually works out of the building I work out of, I am proud to say that the losses that I have realized in the market are nothing like the $3 billion loss by one trader on Natural Gas prices. Kind of puts my little piece of investing activity in to perspective.
To me, a lot of this story sounds like pure speculation. I am sure that there were huge algorithms being used and many highly educated minds being put together to create a trade of this magnitude, but at the end of the day all this firm was doing was gambling that natural gas prices were going to rise. I like them, believe that they will rise in the near future. However, these guys just missed the mark in their timing IMHO. Talk about watching your money go up through a flare stack!
2 Comments on this post
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Canadian Capitalist said:
Actually, they lost something like $6 Billion or two-thirds of their equity in a matter of weeks!
September 25th, 2006 at 9:58 pm -
empty spaces said:
the heading says million instead of billion!
also check out the competition on my blog and enter for your chance to win $50 gift certificate.
http://moneyshakerblog.com/2006/10/competition-announcement.html
October 1st, 2006 at 9:37 pm
