Friday, November 16, 2007

Hedge Fund – Rising Star in Creating Billionaires

Citadel and Ken Griffin
Ken Griffin – one of my clients whom I want to introduce to my blog readers as their idol. Ken is a typical example of starts young, gets rich young and is a self-made billionaire who of course, qualifies to retire young. His company, Citadel, was rated Best Hedge Fund by
Euromoney in 2007.

Ken Griffin (38) was a typical successful young investor who started trading at his dorm room at Harvard. He established Citadel at the age of 22 in 1990.

Citadel - The Silent Giant
Unlike other private-money gurus such as Warren Buffett, Stephen Schwarzman and Steve Cohen, Ken Griffin remains largely unknown. Citadel has ballooned into an AUM of $16 billion. (That’s $1.5 billion more than Cohen’s firm and half a billion dollars more than the fund run by George Soros, according to estimates.)
Citadel trades in low profile, however huge volume. On some days it trades as much as 3 percent of the volume on the Nasdaq and the New York Stock Exchange.

Ken Griffin’s Bio
1968 – Born
1990 – B.A. in Economics, Harvard University
1990 – Founded Citadel
2003 – Forbes 400 – net worth $650 million #377 (first time on list)
2004 – Forbes 400 – net worth $825 million #363
2005 – Forbes 400 – net worth $1.5 billion #207
2006 – Forbes 400 – net worth $1.7 billion #204
2007 – Forbes 400 – net worth $3 billion #117

More About Ken Griffin
Started investing as a Harvard undergrad; read article in Forbes about Home Shopping Network, became interested in the stock market. Managing $1 million of family's, friend's money by senior year. Convinced by investor Frank Meyer to move to Chicago; founded Citadel Investment Group 1990 with Meyer's money. His hedge funds said to have averaged 20% net of fees annually. Assets under management exceed $16 billion.
Forbes 2007

Kenneth C. Griffin (born 1968 in Daytona Beach, Florida) is an American hedge fund manager. Currently, he is Managing Director and CEO of Citadel Investment Group, a Chicago based hedge fund. A self-made billionaire, he founded and propelled Citadel to one of the largest and most successful hedge funds in the world.

Download FREE eBook: "The Complete Guide To Day Trading"
Ken Griffin started day trading while he was at Harvard. Obviously he started early and became rich early. If you want to start now, download this free ebook and learn to become the trader you want to be.

Test of your investment knowledge
What is hedge fund?

Young investor

1 comment:

dbear said...

Here is an interesting video with Frank Meyer, the first "seeder" of Ken Griffin.
Meyer describes the skill of investing with the right managers early on.