Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

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



>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.


  Citadel gross trading profit totalled $28bn last year, 
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-...


"Citadel Securities is a separate entity from the hedge fund Citadel LLC"

https://en.wikipedia.org/wiki/Citadel_Securities

The market maker boogeyman is Citadel Securities, not Citadel LLC.


Assuming that they have a proper firewall between the two and there are no conflicts of interest..




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: