SP500 was down 50% 2000-2002 and he was positive 2000-2002. That doesn't explain it. But quadrupling the funds under management from 2000 - 2007 and running an insane 1200 headcount money management organization maybe helps explaining it.
Citadel have been looking around for a small bank to takeover, so that they can get their snouts into the FED funds and get a bailout.
If that is just a guess, you have no idea just how correct you are. If this is more than just a guess, we may have similar sources. a few know...
at worst they will just close that one fund and keep the rest going. they will be around for a long time
These guys are smart, the smartest of the lot they will regain their position as the worlds top traders.
My bet is he's finished. 50% DD is game over. He might have long lock ups with a lot of institutional money that bought into his long term track record but I'd bet those guys will want out even if he recovers his DD within 3 years or whatever long lockups he has in place. 1200 people organization. That's just nuts.