More Evidence That Fixed Fortifications Are Monuments To Human Stupidity


Citadel down 13% in November, making their YTD something like -47%. Please, I want to get off the ride now. Please?

Citadel's mounting losses have come from declining values of convertible bonds, bank loans and other investments as global markets strain. Much of the losses stemmed from credit holdings during the last week of the month, investors say.
Continued pressure on those assets, particularly as other hedge funds fail and are forced to dump positions to raise cash, is compounding Mr. Griffin's efforts to engineer a rebound during what is by far his firm's worst year ever.
Citadel, which manages roughly $16 billion, has cut about 20 employees in its trading operations in recent weeks, including some in London, and also is trimming its back-office and human-resources rolls by roughly the same number, according to people familiar with the matter. Citadel has about 1,300 employees world-wide.

Citadel Down 13% in November [The Wall Street Journal]