Ken Griffin and Market “Rigging” as Delivering Alpha Conference Approaches

CNBC’s Delivering Alpha Conference is set to kick off Wednesday, and reporter Kate Kelly shared a preview of her interview with Citadel Investment Group’s founder and CEO, Ken Griffin. Mr. Griffin basically runs two separate companies: a $20 billion hedge fund (several) business and a securities business, “including a market-maker trading about 1 billion shares per day in volume.”

This market-maker business put the investor on the spotlight recently, after author Michael Lewis assured –in his book “Flash Boys”- that the market is “rigged” by Mr. Griffin and other high frequency traders, stock exchanges, and Wall Street firms.

CITADEL INVESTMENT GROUP

“He alleges that high frequency traders are able to front run orders, which means they are able to buy in front of you and sell them back to you when you want to buy” (CNBC). However, what he claims to be happening is not exactly front-running, which is illegal, but rather a legal form of front-running enabled by fiber-optic lines that get information to places faster than “public lines.”

However, Mr. Griffin told a Senate Committee last week that this assertion is not accurate. He stated: “new technology has created a much bearer market.”

Mrs. Kelly promised to talk about this and Mr. Griffin’s view of politics, his political contributions, and several related subjects, on Wednesday, at the Delivering Alpha Conference.

The Conference is well-known for the stock pitches that some of the best hedge fund managers make. Speculation is rising as the time approaches, and, although we have no certainties, we can take a guess on which will be some of these pitches. For instance, Mr. Griffin’s largest long stake is placed at Citigroup Inc (NYSE:C), a stock that Leon Cooperman recommended a few months ago, and one that many think could be amongst Cooperman’s picks for the Conference. Griffin could also be amongst Citigroup Inc (NYSE:C)’s supporters, since he seems quite bullish about this company: over the last reported quarter, his fund almost doubled its stake in the company. This position is now worth almost half a billion dollars.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!