Suppose your most recent employer was involved in one of the biggest hedge fund implosions ever. Say you used to work for Amaranth Advisers LLC, for example. Of course you'd need to put that on your resume.
Ironically enough, it's a pretty good job reference -- and a source of job security.
That's the case with 17 former Amaranth traders, who are now employees of the venerable firm, Goldman Sachs, (now known as Goldman Sachs Group, Inc. (NYSE:GS)), according to a story on Bloomberg.
The firm is the biggest player in the hedge fund world, with nearly $30 billion in assets (in other words, Goldman has a lot of super wealthy clients). These 17 employees were not from the energy side of Amaranth (the source of the problems). Rather, they came from the credit side.
Interestingly enough, this may be a sign that Goldman sees opportunities in restructurings -- especially as Corporate America loads-up on debt for buyouts.
Apparently Goldman likes to cover all its bases.
Tom Taulli is the author of various books, including the Complete M&A Handbook. He operates DealProfiles.com.
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