I saw this in the comments section in the WSJ regarding Citadel suing some former employees. I am not an algo trader, but I thought I would pass this on. --------------------------------------------------- "The Citadel suit is ridiculous, absurd, just a Red Herring to cosmetically place Citadel on the Goldman Sachs side of the fence, for business, political, & investigative reasons, and as an in-house warning to any other key Citadel employees NEVER to practice their livelihood outside of Citadel's sphere. Citadel's value is merely its traders, proprietary alg codes, and ability to raise third party trading capital. With their braintrust walking out the door every night, what's Ken Griffin's ownership exit $value really worth? Like a Hollywood agent who represents box office Star power, can cast for tent pole movies, and thusly can get the movies greenlit. Citadel is no different. When their Stars leave, just like any theatrical agency, they will take a revenue hit, to the possible point that they can even go out of business. For those with as much history in the biz as I, they know that even Dick Donchian's 5 & 20-day moving averages and Abe Cohen's Point & Figure text are the 'secret sauces' that are as good, and often better, in ROI than what 99% of the Investment Advisors/CTA's use. The trading algs ain't Rocket Science, never were, but the unsophisticated public & professional clients know not!"
I don't understand the point of this rant. Some things it's saying are obvious, while some are rather silly. Overall, doesn't really make a lot of sense.
I don't know about the rant. I just posted it for the last paragraph: For those with as much history in the biz as I, they know that even Dick Donchian's 5 & 20-day moving averages and Abe Cohen's Point & Figure text are the 'secret sauces' that are as good, and often better, in ROI than what 99% of the Investment Advisors/CTA's use.