Our favorite midwestern hedge fund is turning things around. Let’s get a show of hands for how many investors are retropsectively glad KG made them stick it out. He knows what’s best for you.
Citadel Investment Group LLC, the Chicago-based hedge-fund firm whose largest funds lost about 55 percent last year, in January posted its first gain in seven months, according to an investor.
The Kensington and Wellington funds, which together manage about $9 billion, returned an estimated 4.75 percent, said the person
[...]
Citadel made money on wagers in stocks, macro and convertible-arbitrage strategies, the investors said.
Earlier: The Walls Close In
Citadel Is On Top Of The World*
Citadel Hedge Funds Said to Return 4.75% in January [Bloomberg]
Protectionism is good.
-Wideclops
Glad I started investing with them in January. Wait, I started January of 2008. Fuck me
We’re back, baby!
And the louder they “leak” the good news, the quieter they’ll be when they give it all back by March.
at this pace how long until Citadel passes the high water mark and can collect performance incentives?
@5- see the tag.
congratulations- they made lunch money by picking off convertibles while everyone else was updating resumes on monster.com
@5 and @6:
They’ll double their money in 14 months at a 5% monthly increase.
1.05^x = 2
x =log(2)/log(1.05) = 14 months
No sweat.
5% a month is no problem at all; just ask Madoff
I got a guy in Palm Beach who can do that. Some sort of split strike strategy. I don’t really understand it but it doesn’t go down, ever.
So they outperformed teh S&P over that period by, uh, um, yea, brilliant work gents
isn’t the 4.75% return marked to the (starkly reduced) monthly market? didn’t the investors only get back 2% of the 57% they were down?
@13 don’t be a buzz kill. Talk like that isn’t going to bring in new money.
@4 – bingo! pr 101…the golden slacks way – leak out the good, make them search high and low for the bad (thank goodness we have bessy).
What is Citadel?
-Cosmo
Even a blind squirrel finds a nut every now and then..
I am really going to hate these guys in 3 years.
Has Fast Money become anything but a bitch fest? I’m seriously tired of the incessant droning on that show.
Can Dylan please shut the fuck up about the “bad assets” and “taxpayers?”
If you don’t have 300 mins of air time to fill in a week, go to dead air or find a cute chick to re-read the news of the day.
Dylan: let’s talk about how the Fed bailed out GE’s ass with the Commercial Paper facility and the FDIC guarantees on your “bank debt.”
Face it buddy – your paycheck is supported by the US Treasury just as much as anyone at Goldman.
Maybe the feds should appoint some new producers for CNBC.
good point 19.
these self righteous pricks have no problem cashing their checks from a “government bailout” all the while bashing banks.
btw – i did waaaaay better than citadel last month.
buy GS and write spots.
12% a month, baby.
Why can’t the Government just take the toxic assets and put them in a toxic asset bank and just leave them there. Not pay for them, cause they don’t seem to be worth anything, but just take them away so they can’t do any more bad stuff.
—-conversation heard in the elevator, the ride was waaay too long…
@21 We didn’t make you take the job at Wachovia
I’d love to know the beta on that return. Hell, why not swing for the fences when you are already holding your angry clients hostage?
You know how it works, short the shit out of Citadel and buy tons of spiders, drive that beta to nothing!
“short the shit out of Citadel”
ummm…is that a joke?
@8
72/5 = 14.4 close enough
24 you are a fucking idiot, did someone on yahoo finance link you to dealbreaker or something?
Does anyone know if Daschle ditched the red specs?
I’m fucking an analyst @ Citadel she’s one hell of dick sucker.
@29: yeah, i know- i still like your wife better, though.
@30 that wasn’t his wife, it was his father but then you like being face-deep in man pubes don’t you.
@19 how’s unemployment working out?
@29 fuck you
@31 your job is next… i sense “tension”
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