Why would I want to get a job with them? Couldn't think of anything worse. I just made a point that it's hard to understand the headcount at many of these firms. I bet that no more than a handfull of traders make 80%+ of the profits so what does everyone else do?
lol FWIW, there *are* some things going on @ Citadel, including some high-level headrolling. But I think it's mostly related to some earlier issues, and even if they do drop some coin, it's been a great year. "Most of them are crooks": stop posting. You are stupid.
NY Times http://www.nytimes.com/2006/11/22/business/22hedge.html?_r=1&ref=business&oref=slogin Executive at Stock Unit Said to Leave Hedge Fund Article Tools Sponsored By By JENNY ANDERSON Published: November 22, 2006 The head of global stocks at the Citadel Investment Group, a $12 billion Chicago-based hedge fund, has left the firm, according to a person briefed on the situation. The executive, Anand Parekh, formerly head of the North American structuring group at Deutsche Bank, left Citadel on Friday. He was one of seven business heads at the giant hedge fund, and was seen by some investors as among those who could be a potential successor to Kenneth Griffin, the 38-year-old billionaire founder and chief executive of Citadel. Bryan Locke, a spokesman for the fund, said Citadel did not comment on personnel issues. Mr. Parekh could not be reached for comment. Performance within the equities division started the year strong, but lagged as the year wore on. While those results remain positive for the year, they are not as strong as other areas of the fundâs portfolio. Citadel was up about 2.5 percent in October and is up 20 percent for the year, according to an investor. James Yeh, who is head of global markets and quantitative strategy, will now be involved in the equities business, according to the person briefed on the situation. Mr. Griffin is among a handful of hedge fund giants who aspire to create a diversified investment group, potentially one that could be publicly traded in the future and one that extends beyond a hedge fund that bets for and against stocks. Citadel has seven main business areas that include stocks, market making, quantitative strategies and energy trading. It is a major Wall Street darling as a result of its extensive trading, which can represent up to 2 percent of activity on major stock exchanges. Mr. Griffin started trading in his Harvard dorm room and founded Citadel in 1990, not long after graduating, with $4.6 million. He has become a big name in monied circles: his second wedding took place at Versailles in 2003 and this month he spent $80 million for âFalse Startâ (1959), a painting by Jasper Johns, from David Geffen, co-founder of DreamWorks, the Hollywood studio. Citadel was the source of a wide range of market rumors on Friday, including speculation that the fund had lost money in the energy market. âWe are aware of the rumors,â Mr. Locke said Friday. âThey are completely unfounded.â In September, when Amaranth Advisors, a $9.25 billion hedge fund, blew itself up by making risky energy trades that turned against it and made it impossible to further unwind, Citadel and J. P. Morgan Chase took over Amaranthâs energy trades. The rationale behind taking over the trades was straightforward: Amaranth could not effectively trade out of any positions because the market knew it was imploding. Citadel and J. P. Morgan could take the positions, which the market was discounting, and wait to see if the natural gas market recovered. As the hedge fund space has gotten more crowded, multi-strategy funds like Citadel have had to look into more exotic and far-flung places to find original investments, including reinsurance â a popular area for hedge funds recently â and energy trading, which Citadel ventured into after Enron collapsed, an event which created investment opportunities.
Their employees are all nerdy quants and IT computer geeks.. Lots of Asians. I worked at a bar 2 years ago and they were having one of those company events packages. I never saw so many asian yuppie nerds in my life walk into a bar before. Stuck in an office , staring at computers with these dorks and for $125k ?I would rather work somewhere else, for someone else.