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Citadel is basically counterfeiting shares, just like the Fed is printing dollars. its a scam and is a reason how Citadel makes $30,000,000,000 profit per year
by slt2021 2y ago
Citadel is basically counterfeiting shares, just like the Fed is printing dollars.
its a scam and is a reason how Citadel makes $30,000,000,000 profit per year
- gruez 2y ago>its a scam and is a reason how Citadel makes $30,000,000,000 profit per year Where are you getting "$30,000,000,000" (billion) in profit? Wikipedia says they only made $6.3 billion in revenue in 2023. Moreover, they were in existence for 22 years. Even if they only started "counterfeiting shares" in 2021, $30B in profit per year (so $90B in the past 3 years) seems absurd for only $60B worth of "counterfeiting shares" on their balance sheets.
- slt2021 2y agoCitadel gross trading profit totalled $28bn last year, https://www.hedgeweek.com/citadel-makes-record-16bn-profit/#:~:text=Citadel%20gross%20trading%20profit%20totalled,in%20expenses%20and%20performance%20fees https://www.hedgeweek.com/citadel-makes-record-16bn-profit/#.... 60B is a balance at a specific date 12/31/2022, they trim the balance by the EOY and harvest losses. the average balance is much bigger and fluctuates heavily given market demand. UPD: I stand corrected, the market making arm only made meager $5,000,000,000 for the 6 months, so more like 10,000,000,000/year, not 28 https://www.nasdaq.com/articles/citadel-and-jane-street-set-record-revenue-competition-banks-heats https://www.nasdaq.com/articles/citadel-and-jane-street-set-...
- gruez 2y ago"Citadel Securities is a separate entity from the hedge fund Citadel LLC" https://en.wikipedia.org/wiki/Citadel_Securities https://en.wikipedia.org/wiki/Citadel_Securities The market maker boogeyman is Citadel Securities, not Citadel LLC.
- taway789aaa6 2y agoAssuming that they have a proper firewall between the two and there are no conflicts of interest..