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A Review of the U.S. Senate Report on the Amaranth Debacle
Hilary Till: This article is excerpted from a two-day seminar by the author on “The History of the U.S. Futures Industry with a Focus on the Role of Chicago.”
Author(s) :
Research Associate, EDHEC-Risk Institute
Presentation :
On June 25, 2007, the U.S. Senate Permanent Subcommittee on Investigations released a report on the Amaranth debacle, entitled, “Excessive Speculation in the Natural Gas Market”. The report was released in conjunction with the subcommittee’s public hearing on the same date. Further hearings are scheduled for July 9th. The 135-page report (and its further 345 pages of appendices) provides a wealth of detail on the largest hedge-fund debacle to have thus far occurred. In carrying out their forensic analysis, the Senate subcommittee examined several million individual trades. The subcommittee obtained this information by subpoenaing records from the New York Mercantile Exchange (NYMEX), the Intercontinental Exchange (ICE), Amaranth, and other traders.| Type : | Working paper |
|---|---|
| Date : | le 03/09/2007 |
| Extra information : | For more information, please contact EDHEC Research and Development Department [ research@drd.edhec.edu ] |
| Research Cluster : | Finance |
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About EDHEC
Located in Lille, Nice, Paris, London and Singapore, EDHEC is one of the 20 best business schools in the world. Resolutely international and directly connected to the world of business, it is known for the excellence of its research and its capacity to train entrepreneurs and managers able to move the lines.
A true laboratory of ideas, it produces innovative solutions recognized by companies.
Her research is irrigating her teaching based on "build people to build business" and "learning by doing".
