Citadel down 47% YTD

[makloda]

Quote from AK100:Another case of bull market genius. S&P is down wat 50% and their funds lose 50%......

SP500 was down 50% 2000-2002 and he was positive 2000-2002. That doesn't explain it.

But quadrupling the funds under management from 2000 - 2007 and running an insane 1200 headcount money management organization maybe helps explaining it.

 

[limitdown]

Quote from Maverick74:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aon5iPboyGaU&refer=home

Citadel Funds Lose 13% in November, 47% This Year

By Saijel Kishan and Katherine Burton

Dec. 4 (Bloomberg) -- Citadel Investment Group LLC, the Chicago-based hedge-fund firm run by Kenneth Griffin, lost 13 percent in November, bringing the decline for the year to 47 percent, according to two people familiar with the matter.

so....?

 

[AK100]

Good point Mac. I stand (slighly) corrected.

 

[Manni]

Citadel have been looking around for a small bank to takeover, so that they can get their snouts into the FED funds and get a bailout.

 

[RedDuke]

Quote from Manni:

Citadel have been looking around for a small bank to takeover, so that they can get their snouts into the FED funds and get a bailout.

Griffin is very smart. May be this is how he will be able to weather this storm.

 

[psytrade]

Quote from arealpissedgoy:

With SAC and CITADEL posting big losses, I'm wondering how to short the avante garde arts scene.

These two guys were the largest buyers of useless "piss-in-a-pot" type art.

Exhibit A : damon hirst : "gold plated shit in eunchs piss" will now appear on the market at a 95% discount.

-Short Sotheby's, its down pretty big but what the hell.

 

[El Guapo]

Quote from JamesVU2000:
I bet a friend of mine 100 bucks yesterday before I saw this news that they would be finished within a year.

They wont survive

If that is just a guess, you have no idea just how correct you are. If this is more than just a guess, we may have similar sources. a few know...

 

[rosy2]

Quote from JamesVU2000:

I bet a friend of mine 100 bucks yesterday before I saw this news that they would be finished within a year.

They wont survive

at worst they will just close that one fund and keep the rest going. they will be around for a long time

 

[ravenglass]

Quote from RedDuke:

Griffin is very smart. May be this is how he will be able to weather this storm.

These guys are smart, the smartest of the lot they will regain their position as the worlds top traders.

 

[makloda]

My bet is he's finished. 50% DD is game over. He might have long lock ups with a lot of institutional money that bought into his long term track record but I'd bet those guys will want out even if he recovers his DD within 3 years or whatever long lockups he has in place.

1200 people organization. That's just nuts.