This letter is so generic. It says nothing about why an investor should _invest_ in Citadel. Great story. Smart people. But if I were the investor, tell me about your capital expenditures, your business unit performance, how _MY_ money is being utilized, etc. Where are the year to year (quarter to quarter) performances for the units? Maybe these information are in a different letter, but this letter can be from any company. Great story though. I think other CEO's should use this letter as a template, change "Citadel" to "XYZ" company, add in a few personal touch such as "grandpa stories"..etc. Shaiz... I should use this as my MBA application essay.
It would be beyond foolhardy to offer such detailed information to a large group of investors, given how easily these things get leaked. I would imagine such details are available to investors that want to have access to them for due diligence purposes. My guess is that it's also protected by a properly draconian NDA.