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0 pointsnext_xibalba1y ago0 comments

You appear to be referencing Jeff Yass and Susquehanna International Group. Why are you being cagey about saying so? Their hedge fund has had losing years, whereas, as far as I recall, Madoff never reported a loss. On what information are you basing your claims?

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mmiyer1y ago

They're referring to Ken Griffin / Citadel (Securities). Not that it makes their claims any less silly in terms of fundamentally misunderstanding how markets work.

bboygravity1y ago

What claim about how the market works is silly exactly and why?

My claim was that 1 person owns the 1 major US market making business AND a hedge fund. Facts: they can control the price (naked shorting + strategic FTDs) and trade on it. Even if they can't/don't control the price, they can still front run the entire market. And even if they don't do that bEcaUsE iT's iLliGaL they legally (not ethically) do it through PFOF from Robin Hood among others.

They do all of that and way more. Just look up the continuous massive FINRA and SEC violations and the (tiny) fines they pay for it.

But I'm sure all is fine and dandy. I find it mind blowing why anybody would defend the biggest crook since Madoff.

next_xibalbaOP1y ago

> they can control the price (naked shorting + strategic FTDs) and trade on it

This is the bit that seems poorly substantiated and unlikely. Please elaborate. Anything evidence you can cite would be helpful.

Also, Citadel’s HF has definitely had down years.

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mmiyer1y ago

You should be happy that market makers like Citadel Securities exist. Payment for order flow is why commission free trading can exist. Citadel Securities, Virtu, Hudson River Trading, Jump Trading etc compete in a negative sum game which reduces the bid ask spread on various assets (i.e. make them cheaper to trade for everyone).

Also lol that a hedge fund with about 1% of total hedge fund assets controls prices. What do you think the other hedge funds and trading firms are doing?

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glockjock1y ago

Yass, Griffin and Mercer cannot lose. They make a profit on every transaction on a listed exchange whenever they want, using inventory or front running bids and asks w faster computers than the rest of us have. They also do naked shorting and spoofing on bids and asks- disingenuous large blocks that are entered to start a stampede and then pulled after the carnage. They are crook billionaires and that's all they are. They don't want to be regulated or taxed, and that's why they're trying to buy the election. They are evil.....

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mmiyer1y ago

They're referring to Ken Griffin / Citadel (Securities). Not that it makes their claims any less silly in terms of fundamentally misunderstanding how markets work.

bboygravity1y ago

What claim about how the market works is silly exactly and why?

They do all of that and way more. Just look up the continuous massive FINRA and SEC violations and the (tiny) fines they pay for it.

But I'm sure all is fine and dandy. I find it mind blowing why anybody would defend the biggest crook since Madoff.

next_xibalbaOP1y ago

> they can control the price (naked shorting + strategic FTDs) and trade on it

This is the bit that seems poorly substantiated and unlikely. Please elaborate. Anything evidence you can cite would be helpful.

Also, Citadel’s HF has definitely had down years.

1 more reply

mmiyer1y ago

Also lol that a hedge fund with about 1% of total hedge fund assets controls prices. What do you think the other hedge funds and trading firms are doing?

2 more replies

glockjock1y ago

j / k navigate · click thread line to collapse