Posted by guest , Oct 14, 2008 12:04PM

Bess, you are the shining example of responsible financial journalism. They should name an award after you.

Posted by guest , Oct 14, 2008 12:04PM

THEY GOT TO YOU DIDN'T THEY?

Posted by guest , Oct 14, 2008 12:07PM

"Mostly, we hope, they will stop strutting around like roosters and learn a little humility. The hedge fund managers are not gods, as September proved, nor even that smart. Now how about giving back the mansions the investors paid for?"
http://tinyurl.com/3v2386

Posted by guest , Oct 14, 2008 12:08PM

"Bess Levin"

... Stopped reading right there.

Posted by guest , Oct 14, 2008 12:08PM

Bess can be as responsible as she wants but with eric out there coming up first when you google "Citadel" it almost doesn't matter whether Bess had left the post up or not.

Posted by guest , Oct 14, 2008 12:14PM

@6- who the fuck is 'eric'?

Posted by guest , Oct 14, 2008 12:16PM

@7 those pdfs are not worth the bytes they take up on my hard drive. Get me Citadel's then we talk.

Re: Citadel. 40% down is not unbelievable. From globeandmail, it states that Citadel is down 20% at the end of September. Seeing how October is a major carnage, it is entirely possible they are down 40% on Thursday but is back up to 30% on Monday

Posted by guest , Oct 14, 2008 12:19PM

When things get taken down that quickly, you know it is time to ask for a raise as this place must be getting a lot of traffic.

Posted by guest , Oct 14, 2008 12:21PM

@10- and that the higher ups at citadel are apparently reading.

Posted by guest , Oct 14, 2008 12:22PM

Citadel's $13 billion Kensington fund, which seeks to profit by trading everything from stocks to bonds to energy, dropped 15 percent this year through Sept. 19, according to investors. The multistrategy fund's sole losing year was in 1994, when Griffin, now 39, was down about 4 percent. Two funds with combined assets of $3 billion gained 22 percent and 30 percent.

Posted by guest , Oct 14, 2008 12:23PM

Define "right click your stuff"

Posted by guest , Oct 14, 2008 12:23PM

I can't wait to see the citadel story turn out to be true, vindicating bess.

Posted by guest , Oct 14, 2008 12:23PM

Word up Bess. I gotcha. Nice to know you don't have too much of an itchy trigger finger...kind of nice you can put the bullet back in the gun.

Posted by guest , Oct 14, 2008 12:28PM

What were the watermarks? Can someone repeat that one?

Posted by guest , Oct 14, 2008 12:33PM

RE: Ken Griffin & Citadel...

Although TGFD knows nothing to little about hedge funds, I do have some knowledge of people.

A few weeks back when that "sissy candysss" Griffin (as I referred to him then on DB) put out that 'statement of strength' letter to Citadel clients, I knew then that Citadel was in bad shape. It didn't take a genius to realize that "he was scared shitless of something". That's what I wrote on DB.

I forgot about that sissy-candyass Griffin until just now.

I'm glad I was right about something for a change. Just remember, those "unfounded" rumors did not originate in some kind of vacuum.

Is there anything out there in the ether that actually dispels the rumor?

The Guy from Delaware

Posted by guest , Oct 14, 2008 12:52PM

If you linked to a link that linked to a link that had the said removed content would you ? Can you post C&D letter?

Posted by guest , Oct 14, 2008 12:57PM

stopped reading, too responsible.

Posted by guest , Oct 14, 2008 1:05PM

P&I has an article on Citadel's performance (through Sept 30) here:

http://www.pionline.com/apps/pbcs.dll/article?AID=/20081006/REG/810069997/1001

"Citadel has been hit harder than its peers by collapsing financial markets. Its largest fund is off 17% for the year, having lost 14% in September alone."

Posted by guest , Oct 14, 2008 1:06PM

You know that we are in totally parallel universes when they are having a philosophical conversation citing George Orwell on CNBC.

Posted by guest , Oct 14, 2008 1:09PM

this will only make me read db more. the now you see it, now you don't model = increased pageviews. bravo, db. also, why hasn't citadel put out a statement?

Posted by guest , Oct 14, 2008 1:13PM

After the article in the globe and mail and comments on lot of blogs, the entire industry needs to put out a statement.

oh wait, maybe they are too busy dealing with the clients who have been reading db instead of the letters they sent.

Posted by guest , Oct 14, 2008 1:14PM

I am the CEO of a hedge fund, what is a watermark?

Posted by guest , Oct 14, 2008 1:18PM

I am the CEO of a hedge fund, what is a hedge fund?

Posted by guest , Oct 14, 2008 1:21PM

I am the CEO of a hedgehog, what is a hedge fund?

Posted by guest , Oct 14, 2008 1:29PM

I am the CEO of a large commercial bank. What is a bonus?

Posted by guest , Oct 14, 2008 1:35PM

@analyst-- what would impress you?

Posted by guest , Oct 14, 2008 1:55PM

"George Manos, the 75-year-old Republican, told police that Edith Walker, the 73-year-old Democrat, jumped on his back and struck him in the head three to four times with her fists. Manos said two other elections workers had to pull Walker off his back, according to a report filed with Cuyahoga Falls police.

Manos said it happened after he accused Walker of ballot tampering, and he wants to prosecute."
http://tinyurl.com/44xtxx

this is getting out of hand when there is a bar brawl at the nursing home.

Posted by guest , Oct 14, 2008 2:18PM

MANOS - the Hands of Fate!

(or am I the only MST3K fan here?)

Posted by guest , Oct 14, 2008 3:30PM

@36- if you think that was wrong, then why the fuck repost them here? douchebag.

Posted by guest , Oct 14, 2008 3:37PM

@35, fantastic obscure reference. Well played indeed.

Posted by guest , Oct 14, 2008 3:41PM

@36
GSO has pretty good #s considering, but that doesn't explain why they couldn't spell check their quarterly letter (see pg. 8).

Posted by guest , Oct 14, 2008 3:47PM

Bess you is my woman now.

Posted by guest , Oct 14, 2008 3:53PM

@37

When did I claim it was wrong? I was simply pointing out how odd it was to delete the post but keep the PDF links working.

Posted by guest , Oct 14, 2008 3:54PM

@35 - are the re-runs playing anywhere?

Posted by guest , Oct 14, 2008 3:58PM

@36- perhaps it wasn't intentional?

Posted by guest , Oct 14, 2008 4:23PM

@43

Perhaps.

Posted by guest , Oct 14, 2008 4:36PM

While I didn't read the letter very carefully, it looks like GSO has mostly illiquid positions which are hard to price. Are their numbers really accurate? PE, bank loans, mezzanine tranches. Where do they get the prices for this stuff or is it Mark Walsh/Lehman accounting?

Posted by guest , Oct 14, 2008 4:44PM

Bend over, Bess, and I'll right-click your stuff...

Posted by guest , Oct 14, 2008 5:36PM

So DB deletes my post but still leaves the original links working, interesting..

Tip - if anyone wants to see anything deleted (letters of Citadel post), Google Reader + DB's RSS is your friend.

Posted by guest , Oct 14, 2008 5:38PM

@46- they deleted your post b/c you were reposting the letters they took down. why are you being such a dickbag?

Posted by guest , Oct 14, 2008 5:39PM

^or

Posted by guest , Oct 14, 2008 9:09PM

@35 - Gay. Go get AIDS tested

Posted by guest , Oct 15, 2008 2:00PM

Please senf to jbeckerath@gmail.com as well. Much appreciated.