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FRM blames risk management for Amaranth downfall

September 29, 2006  



Financial Risk Management, a $12 billion fund of funds invested with Amaranth Advisors, told clients this week that FRM believes "that risk management is what ultimately failed."

In a September 22 letter, FRM outlined its decision to maintain an investment, but decrease exposure, in Amaranth as the hedge fund took on...

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