• 14 Oct 2008 at 11:51 AM

Regarding Posts That Are No Longer

By

We removed the Citadel post after it was brought to our attention that it was a baseless rumor, and was irresponsible to repeat.

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    Comments (76)

    Older Comments
    1. 1
      Posted by guest | October 14, 2008 at 12:04 PM

      Well Bess, some guy writing for the “Globe and Mail” in Rome seems to be talking about the hedge funds anyway.
      “INVESTING
      Hedge funds lose their edge
      ERIC REGULY
      ereguly@globeandmail.com
      October 13, 2008
      ROME”
      http://www.theglobeandmail.com/servlet/story/LAC.20081013.RREGULY13/TPStory/Business

    2. 2
      Posted by guest | October 14, 2008 at 12:04 PM

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

    3. 3
      Posted by guest | October 14, 2008 at 12:07 PM

      “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

    4. 4
      Posted by guest | October 14, 2008 at 12:08 PM

      “Bess Levin”
      … Stopped reading right there.

    5. 5
      Posted by guest | October 14, 2008 at 12:08 PM

      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.

    6. 6
      Posted by Investorcluzo | October 14, 2008 at 12:12 PM

      bess, kudos for being a kind hearted soul. however, shame on the tipsters for not reviewing the material before they sent it your way.
      now how many of you saved the pdfs? please return to dealbreaker asap.

    7. 7
      Posted by guest | October 14, 2008 at 12:14 PM

      @6- who the fuck is ‘eric’?

    8. 8
      Posted by guest | October 14, 2008 at 12:16 PM

      @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

    9. 9
      Posted by guest | October 14, 2008 at 12:19 PM

      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.

    10. 10
      Posted by guest | October 14, 2008 at 12:21 PM

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

    11. 11
      Posted by guest | October 14, 2008 at 12:22 PM

      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.

    12. 12
      Posted by guest | October 14, 2008 at 12:23 PM

      Define “right click your stuff”

    13. 13
      Posted by guest | October 14, 2008 at 12:23 PM

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

    14. 14
      Posted by guest | October 14, 2008 at 12:23 PM

      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.

    15. 15
      Posted by Jesse | October 14, 2008 at 12:27 PM

      Good job.
      Thanks Bess.

    16. 16
      Posted by guest | October 14, 2008 at 12:28 PM

      What were the watermarks? Can someone repeat that one?

    17. 17
      Posted by guest | October 14, 2008 at 12:33 PM

      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

    18. 18
      Posted by guest | October 14, 2008 at 12:52 PM

      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?

    19. 19
      Posted by guest | October 14, 2008 at 12:57 PM

      stopped reading, too responsible.

    20. 20
      Posted by guest | October 14, 2008 at 1:05 PM

      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.”

    21. 21
      Posted by guest | October 14, 2008 at 1:06 PM

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

    22. 22
      Posted by guest | October 14, 2008 at 1:09 PM

      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?

    23. 23
      Posted by guest | October 14, 2008 at 1:13 PM

      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.

    24. 24
      Posted by guest | October 14, 2008 at 1:14 PM

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

    25. 25
      Posted by guest | October 14, 2008 at 1:18 PM

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

    26. 26
      Posted by guest | October 14, 2008 at 1:21 PM

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

    27. 27
      Posted by guest | October 14, 2008 at 1:29 PM

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

    28. 28
      Posted by Anal_yst | October 14, 2008 at 1:29 PM

      The PDF’s weren’t that impressive, TCI down about 25% ytd if I remember (“..although check out our cumulative 300% return since inception!”) correctly, GSO down less than 5%, again, if memory serves correctly

    29. 29
      Posted by guest | October 14, 2008 at 1:35 PM

      @analyst– what would impress you?

    30. 30
      Posted by Investorcluzo | October 14, 2008 at 1:41 PM

      @analyst – but what about the line in the gso letter suggesting their investors should realize a 29% IRR based on their holdings?

    31. 31
      Posted by MarshallStack | October 14, 2008 at 1:50 PM

      I posted the pdfs at the NY Post site – attributed to Bess Levin.
      Was that wrong?

    32. 32
      Posted by guest | October 14, 2008 at 1:55 PM

      “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.

    33. 33
      Posted by MarshallStack | October 14, 2008 at 2:08 PM

      Manos was giving 20 pounds to Edith.
      Although he has a 3 inch reach advantage.
      Obviously Edith’s corner though she should get inside George’s jab and bust up his ribs. Either from the front or the back. After the TKO – Edith announced she was gunning for de la Hoya. But the Golden Boy wants no part of “Wild” Walker.

    34. 34
      Posted by guest | October 14, 2008 at 2:18 PM

      MANOS – the Hands of Fate!
      (or am I the only MST3K fan here?)

    35. 35
      Posted by guest | October 14, 2008 at 3:30 PM

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

    36. 36
      Posted by guest | October 14, 2008 at 3:37 PM

      @35, fantastic obscure reference. Well played indeed.

    37. 37
      Posted by guest | October 14, 2008 at 3:41 PM

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

    38. 38
      Posted by guest | October 14, 2008 at 3:47 PM

      Bess you is my woman now.

    39. 39
      Posted by guest | October 14, 2008 at 3:53 PM

      @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.

    40. 40
      Posted by guest | October 14, 2008 at 3:54 PM

      @35 – are the re-runs playing anywhere?

    41. 41
      Posted by guest | October 14, 2008 at 3:58 PM

      @36- perhaps it wasn’t intentional?

    42. 42
      Posted by guest | October 14, 2008 at 4:23 PM

      @43
      Perhaps.

    43. 43
      Posted by guest | October 14, 2008 at 4:36 PM

      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?

    44. 44
      Posted by guest | October 14, 2008 at 4:44 PM

      Bend over, Bess, and I’ll right-click your stuff…

    45. 45
      Posted by guest | October 14, 2008 at 5:36 PM

      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.

    46. 46
      Posted by guest | October 14, 2008 at 5:38 PM

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

    47. 47
      Posted by guest | October 14, 2008 at 5:39 PM

      ^or

    48. 48
      Posted by guest | October 14, 2008 at 9:09 PM

      @35 – Gay. Go get AIDS tested

    49. 49
      Posted by Evaluator Speculator | October 14, 2008 at 11:54 PM

      Folks, if anyone has the letter, would you be so kind as to email a copy to evaluatorspeculator@gmail.com? It’s not for sharing, but my knowledge. Many thanks in advance.

    50. 50
      Posted by guest | October 15, 2008 at 2:00 PM

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

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