Thursday, December 13, 2007

Moore Capital Closes Canadian Unit Following Losses (Amaranth)

"Past performance is not necessarily indicative of future results"

From Bloomberg:

Moore Capital Management Inc. fired its Canadian hedge-fund team overseen by former Amaranth Advisors LLC trader Manos Vourkoutiotis and closed the unit after managers lost 15 percent last month.

The group of about 15 people ``did not meet the risk-reward parameters that have guided Moore since inception,'' New York- based Moore Capital said today in a statement e-mailed to Bloomberg....MORE