Looks too good? It might just be

Sun Oct 1, 2006

The first big blowup of the post-Goldstein era happened with Amaranth Advisors last month. To many, the near-collapse of Amaranth, which as of July 1 had $9.1 billion in assets and ranked 23rd on the Absolute Return Billion Dollar Club, came as a shock. Yes, Amaranth had outsize returns while many have been struggling. But it is hardly alone in defying the odds, which brings to mind the old saw: "If something looks too good to be true, it probably is."

At least it should be checked out. Some Amaranth investors did their...


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