Griffin's Problem: Microstructure, Citadel and GameStop
What happens when noise traders gang up?
Ken Griffin has a problem. He is worth about 20 billion and runs a 35 billion hedge fund called Citadel Securities. He and another hedge fund titan, Steven A. Cohen of Point72, formerly known as SAC Capital, that Preet Bahara went after for insider trading, are invested in Mervin Capital. The latter is run by former SAC traders and is in the business of…
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