We’re a bunch of clever clogs

We do not have a penny invested in Amaranth. We did inherit a $30m position in the fund last year in a portfolio we took on from a competitor. Following on-site meetings with founder Nick Maounis and his team, we decided to redeem from the fund; moreover, our concerns were sufficient to justify paying a redemption penalty for an early exit.

Fauchier Partners, Oct. 2006