Citadel

“So there will still be a huge alpha and huge premium, not just on the interesting thinking and being able to puzzle things together which I think humans are still uniquely good at, but also just bringing new facts to the system, bringing new, new tokens.”

“Last year he had over a 100,000 people apply to work for him.”

“The one thing I heard was that he convinced Harvard to let him install like a satellite dish so he could get real up to the minute data. He was the only person at Harvard that had this data flow.”

“And the equities team, when I was there, they were doing like 2000 CEO interviews a year or something, just like interviewing every single person that runs a public company, getting the temperature”

“It's the book that it was like, it's on your desk when you joined the firm, like he requires everyone to read it.”

“And he was the first person, the person that made the first quantitative hedge fund ever. He built the world's first wearable computer with Claude Shannon. He was the first LP in Citadel.”

“On the on the quant team stole code for, they call them alphas, basically code that no matter who runs it, they're gonna generate return. Stole a bunch of stuff on like a hard drive. Citadel finds out, realizes that they're stealing the IP, the code. The guy f…”

“And in the talk that I used for the basis of the episode, because there's no biography written on Ken, he goes, And since then we've made about thirty billion dollars trading commodities.”

“He built this thing called a risk wall in Citadel. It's 30 feet by 10 feet. It's a giant screen. And he says before they were getting like a B, B plus on how well they were managing risk. And, you know, Ken's not gonna be satisfied with B anything. And so he a…”

“The day it blows up, and keep in mind, in this story, Ken Griffin's, like, 33. He's, like, really, really young. And he immediately charters a Gulfstream jet, goes to Houston, and interviews every single person that was important in the Enron trading business.…”

“So in the V 100 days, Citadel found a way to do mat moles faster than NVIDIA did. And it was like the most incredible, you know, find ever.”

“And then Jesse Livermore, this trader I was telling you about, because he didn't Because he was so worried about the issue of having bad information. He paid for his own people to be on the floor. So then they would call him. It was like Citadel placing, you k…”

“A lot of this stuff feels like conspiracy theories that it feels very similar to the Robin Hood, GameStop, Fiasco where there was like a lot of conspiracy theories about like Citadel purposely tanking markets and the bailing out hedge funds at various points. …”

“Sotheby's is to auction a sixty-seven million year old Tyrannosaurus Rex two years after it sold a stegosaurus fossil to hedge fund owner Ken Griffin for 44.6 million.”

“So I, we heard Millennium did put in a bid. Citadel's bid was better.”

“Interestingly, we heard that three firms were bidding on the assets. So Jane Street, Millennium and Citadel were sort of brought in in a closed Close circle sort of late Friday to bid on the remains of the firm.”

“The prime brokers, the Goldman's and Bank of America's, they do so much business with Citadel, and they've done this before where they know who to go to, just the same way the US government went to Warren Buffett when they wanted to shore up Goldman. They know…”

“Prime brokers reportedly rushed to raise cash to meet margin requirements while Ken Griffin's Citadel, my former employer reached a deal to purchase the funds publicly traded assets.”