Today's Developments

Citibank is reported to have broken talks with Amaranth about a possible purchase of Amaranth's assets. That can't be great news for Amaranth.

Pirates is reported to be closing to new money.

Small hedge fund managers don't have much of a share of the action. 80% of hedge fund industry assets are purportedly controlled by about 125 out of some estimated almost 7,000 funds.