January performance. Continue reading »
Citadel
The latest issue of Bloomberg Markets magazine has the answer to that burning question but first, let’s take a gander at who had the best performance, among large hedge funds.
1. Tiger Global, YTD total return: 45% (assets, in billions: 6.0)
2. Renaissance Institutional Equities, 33.1% (7.0)
3. Pure Alpha II, 23.5% (53.0)
4. Discus Managed Futures Program, 20.9% (2.5)
5. Providence MBS, 20.6% (1.3)
6. Oculus, 19.0% (7.0)
7. All Weather 12%, 17.8% (4.4)
7. Dymon Asia Macro, 17.8% (1.6)
10. Citadel, 17.7% (11.0)
11. Coatue Management, 16.9% (4.7)
12. Stratus Multi-Strategy Program, 16.6% (3.7)
13. OxAM Quant Fund, 16.4% (2.0)
14. SPM Core, 15.7% (1.0)
15. Pure Alpha I, 14.9% (11.0)
16. Autonomy Global Macro, 13.9% (2.1)
17. BlackRock Fixed Income Global Alpha, 13.8% (2.4)
18. SPM Structured Serving Holding, 13.5% (1.6)
19. GSA Capital International, 13.0% (1.0)
20. JAT Capital, 12.7% (2.5)
And for those who judge themselves by how many bags of hundos they’ve got to strip naked and roll around in: Continue reading »
October performance. Continue reading »
Erasing Your Hard Disk And Dumping It In A Canal Turns Out Not To Be As Wise A Move As It Sounds
By Matt Levine
Today’s sad news for Raj Rajaratnam and his constellation of illnesses is a solemn reminder to all of us that, however nice it is to generate outsize returns, nobody really wants to go to jail for it. Obviously the best way to do that is not to do anything illegal, but life being what it is, it’s important to be prepared just in case you one day should find yourself in possession of a hard disk containing incriminating information. For one thing, you probably shouldn’t get caught on a wiretap discussing how you destroyed it. More importantly, if you must try to profit from your illegally obtained hard disk, DON’T shop it to Teza Technologies, the dodgy Citadel spin-off that is keeping a candle burning in the window for when Sergei Aleynikov gets out of jail in 8 years.
Yihao “Ben” Pu seems to have been only about a C- student of past scandals. For one thing, he couldn’t resist the strange allure of Teza. He did manage to avoid wiretaps when he allegedly stole a bunch of code from Citadel, but was tripped up because the buddy whom he charged with destroying the evidence (1) half-assed it, dumping it intact in a single, albeit watery, dumping spot, and (2) went to the Citadel’s private investigators the next day and showed them where their diver (!) could find the hard drives:
Continue reading »
“The Citadel founder’s main hedge funds were up 0.25 percent in September, putting them up by about 15.10 percent for the year, according to sources, making them among the best performers this year.” [II]
The Little Griffins are moving West. Continue reading »
Update: According to Citadel “we’re laying off some employees but not shutting down the entity. This continues to be an ongoing business.”
From the front lines: Continue reading »
Citadel: E*Trade Would Be Better Off Without Mortgage Losses, Board, Independent Existence
By Matt Levine
After a good first half, Citadel is getting so close to its high-water mark that Ken Griffin is starting to reminisce about the good old days when he used to earn performance fees. That in turn reminds him of what else he was up to back in those care-free pre-crash times, like sinking $2.5 billion into an online brokerage saddled with a disastrous mortgage lending operation in November 2007.
And so today he decided to catch up with E*Trade Financial, where he’s the largest shareholder after leading a rescue in 2007. But what started as a nice note to the CEO quickly turned ugly.
Continue reading »
Have you been having a hard time in the man department? Have you tried everything, including sending Instant Messages casually mentioning the fact that you’re filled with Cadbury Creme, volunteering to be tied up in licorice, and rubbing a dozen glazed doughnuts all over your body, to no avail? Shaan Hathiramani and Raj Hathiramani are here to help. The brothers recently left gigs at Citadel to found a perfume company, and it turns out you’re actually on the right track with the food-as-bait but your approach could use some refining. Continue reading »
