10 Biggest Financial Losers
3. Brian Hunter: Lost $6.5 Billion
Brian Hunter was a natural gas trader at Amaranth Advisors, a hedge fund. He had invested about $9 billion worth of assets in natural gas. This sector witnessed tremendous boom after hurricanes, Katrina and Rita, hit in the year 2005. As prices of natural gases went up, Hunter and his firm earned a lot. Traders Monthly had even named Hunter #29 on its list of top traders in March of 2006. He kept on investing more and more in this sector. But when the threat of hurricanes subsided, he and Amaranth was faced with massive losses of about $6.5 billion. Federal Energy Regulatory Commission is presently fining him with $30 million connection with the alleged exploitation of prices of natural gas in the year 2006.
