Who Killed Amaranth? Suspects Abound.

Brian Hunter, the young energy trader at Amaranth, has taken much of the blame for the hedge fund’s implosion after his bets on natural gas blew up in his and his firm’s face last month.

Mr. Hunter’s huge trades worked for a while, but they also turned Amaranth into a one-strategy fund. But former hedge fund manager and current “Mad Money” host Jim Cramer, writing in New York magazine, says Mr. Hunter is “the wrong guy” to point fingers at. “I blame bigger villains,” he writes in an excoriation not only of the Amaranth case, but of hedge-fund investing in general.