-- Poor Brian Hunter and Amaranth Advisors. The 31-year-old trader lost about $5 billion of the hedge funds assets "in about a week" (see e.g. The Wall Street Journal, September 19, 2006, p. A1). "Brash" trades gone bad in natural gas futures highlight the difficulties hedge funds can face. It' not quite right to say "lost" -- the firm "lost" the money to other speculators.
-- Hank Paulson goes to China. In his trip earlier in September (2006), Treasury Secretary Paulson sought to head off growing anti-China sentiment in the U.S. The 9/13/06 reported that he "signaled he won't engage in China-bashing and will instead seek to persuade Americans that they stand to benefit from China's economic rise." Well not just "Americans" -- today's WSJ (9/28/06) reports that his former firm, Goldman Sachs, stands to make "buckets of money" from a $2.58 billion investment last May in the Industrial & Commercial Bank of China, its "single-largest investment of all time." The bank is going public next month, and based on current interest in the IPO, Goldman Sachs is likely to double its money.
jd
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