Amaranth Advisors lost some $6.5 billion on natural gas bets gone wrong, but that hasn’t stopped hedge funds from wagering $3 billion on the volatile commodity over the last 10 months, Bloomberg News reports. Citadel Investment Group, T. Boone Pickens and the Merchant Commodity fund are just some of the energy investors to pour money into the sector, expecting a big rebound. In fact, Citadel picked up some of Amaranth’s bad trades, which ConocoPhillips analyst Jim Duncan estimates could be in the money already. “If you told me I had to go long or short today, I would go long,” Pickens told Bloomberg, which reports his hedge fund is up 120% this year. Experts expect a favorable turn for natural gas, with demand expected to rise 3% in the U.S. next year, coupled with tightening supplies worldwide.