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October 3, 2008

Quote of the Day (2): Citadel as Goldman

In many ways, Citadel’s structure today is probably more akin to an investment bank such as Goldman Sachs than the average hedge fund on the street.

       -- Standard & Poor's, talking about hedge fund Citadel Investment

With hedge funds getting absolutely hammered with poor performance this quarter, the above comparison is likely not going to be seen as helpful. Citadel is down 18% for the year, which is awful, but still trails soul-crushing declines at Atticus (43.5% for the year) and elsewhere.

More here.

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