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CITADEL HEDGE FUND FREE
As a teen of the 80s, he spent his free time grilling local Computerland store employees and as a part-time debugger for IBM, Fortune wrote in a 2007 profile. In keeping with his hedgie mystique, rare peeks into Griffin’s dealings tend to center on his personal art and real-estate splurges, as well as titanic donations to museums and universities. It has also drawn attention to the scope of Griffin’s business affairs as an architect of financial markets who happens to also trade on the outcome, and to whether we want our financial titans to do both. And yet, the system that those cheap trades rely upon, whereby Citadel pays retail brokers for customers’ orders, has raised questions about potential conflicts of interest among trading firms whose main customer is the brokers they serve, not small investors. It’s never been cheaper for retail investors to trade. You reach a point where it’s impossible for others to compete,” he says.Īnd just like Amazon, Citadel Securities likes to point out that the little guy has reaped the rewards of its technological lead. In an industry that relies heavily on technology, Citadel has forged ahead by playing “a game of scale. “The way to think about Citadel is as the Amazon of trading,” says Spencer Mindlin, a capital markets technology analyst at Aite Group.
CITADEL HEDGE FUND SERIES
Through a series of fortuitous events and technological coups, Griffin has turned himself into one of the stock market’s most powerful middlemen, steadily replacing banks as the go-to matchmaker for all manner of institutions, from hedge funds to pension funds and most notably of late, of burgeoning retail brokers.
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That the palaver was enough to promptly warrant Congressional hearings is testament to just how removed the investing public is from today’s market mechanics.Ĭitadel Securities, which now handles roughly 40% of US retail trades, is key to understanding those mechanics, since it had a large hand in creating them.
CITADEL HEDGE FUND TORRENT
The firm is largely responsible for the rise of online brokerages and frenetic trading apps like Robinhood, whose pandemic stock-trading boom culminated in a Reddit-fueled short squeeze that rocked financial markets and stirred up a torrent of investor anger, fear, and conspiracy theories. Behind the sparkly quant hedge fund that launched his Wall Street career stands his inconspicuously profitable trading operation, Citadel Securities. J.B.But Griffin’s business ventures are too big to fly under the radar now. Read More Battleground State News, Florida, News, The South Chicago, Citadel hedge fund, corporate relocation, crime, Illinois Gov. Griffin has been a frequent critic of rising crime in Chicago, and that appears to be a factor in the decision to move Citadel to Miami.
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Griffin, 53, is originally from Daytona Beach, and went to high school in Boca Raton, but founded Citadel in Chicago 30 years ago. Griffin’s decision comes less than a year after he told an audience at the Economic Club of Chicago that he was considering moving the business because of crime in the city.Ī report indicated that over the past five years, using per capita information, that Chicago far outpaced Miami in homicides, sexual assaults, and robberies, while Miami outpaced Chicago in aggravated battery.
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I am excited to have recently moved to Miami with my family and look forward to rapidly expanding Citadel in a city so rich in diversity and abounding with energy.” “Miami is a vibrant, growing metropolis that embodies the American Dream. “I am excited to share with you that Citadel is moving its global headquarters to Miami,” the letter read. Ken Griffin, Chicago’s richest man and founder of the hedge-fund Citadel, recently announced in a letter to employees that his company would be relocating to Miami.