Ken Griffin Quotes
102 Ken Griffin Quotes (Kenneth C Griffin, Citadel Capital, Citadel Group)
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[In March 2012.] Economic freedom is core to the ethos of our country. It's the idea that any person can pursue their dreams, whether it's starting a business or who they choose to work for. It's made America America.
Ken Griffin
[In March 2012.] Every time there's been a bubble in asset prices, people get hurt.
Ken Griffin
[In March 2012.] It's very hard to know you're in a bubble until it's gone.
Ken Griffin
[In September 2006.] Risk is what you make of it.
Ken Griffin
[In July 2014.] In 2008, we lost about half our equity capital in 16 weeks.
Ken Griffin
[In December 2008 on being asked if he would have done anything different. With his flagship fund being down 47% year-to-date as of the 4th of December 2008.] With hindsight, of course, I would have been all in cash!
Ken Griffin
[In December 2008.] I think we're looking at a period of time going forward where the market will value simplicity.
Ken Griffin
[In January 2010.] This is fun for me. I love to build.
Ken Griffin
We are not a hedge fund…
Ken Griffin
We lose lots of money on hundreds of trades each day. We want to prevent losses that arise from making the same mistake twice.
Ken Griffin
[In September 2001.] If you make $100 million at another hedge fund, you are a god. If you make $100 million here and someone down the street makes $400 million, you'd better be thinking about why you didn't make $500 million.
Ken Griffin
[In September 2001 on him being leaning very short in his portfolio at the October 1987 stock market crash.] Historical happenstance has a way of making people look like geniuses.
Ken Griffin
[In September 2001.] I like solving problems.
Ken Griffin
[In September 2001.] If you're Avis, and the lights suddenly go off at Hertz, you had better be in a position to make a lot of money.
Ken Griffin
[In September 2001.] All financial institutions live and die by their liquidity. We are a financial institution. The fact that many people don't think about it is beyond me. It is the essence of what we do.
Ken Griffin
[In September 2001.] I try to surround myself with people who disagree with me. Successful people tend to be very overconfident about what they know, and it leads to tragic mistakes.
Ken Griffin
[In March 2012.] Gambling is entertainment.
Ken Griffin
[In March 2012.] Speculation, is really the force by which we move capital to the best and highest use.
Ken Griffin
[In March 2012.] Investors who find the best businesses to put their money behind are rewarded for their research.
Ken Griffin
[In July 2014.] Think about how much of an effort Coca-Cola makes to protect the recipe for Coke. We have to do the same thing to protect our intellectual property.
Ken Griffin
[In July 2014.] It's very important to all of us in the business to protect our competitive trade secrets.
Ken Griffin
[In July 2014.] The key in the moment of crisis was to understand where the future was going to lie.
Ken Griffin
[In July 2014 on interest rates.] My personal view, is that the Fed is going to stay low a little longer than people expect. But when they do start to move, they will move much more aggressively than people anticipate.
Ken Griffin
[In July 2014.] The heart of our business in stock selection is really understanding the businesses that we invest in cold.
Ken Griffin
We manage risk and provide liquidity. We are not a hedge fund… We use our capital base to provide liquidity to capital markets and to absorb the risk of risky assets… Our goal is to find underpriced and mispriced assets and hedge away the risk… We mitigate the macro risks that global macro managers take. We are the inverse of macro fund managers.
Ken Griffin
[In September 2001 looking back on the fall of 1987 as a Harvard College Sophomore urgently needing a satellite dish for up-to-minute stock quotes for the investment fund he was running but having an issue putting it in Cabot House because Harvard forbid students operating their own business on campus. It was finally decided to be an ‘off-campus’ activity and it was put in before the October 1987 crash when he had $265,000 at risk.] I can’t believe they let me put it up. Unbelievable.
Ken Griffin
[In September 2001.] From day one, the goal was always to build the best independent trading firm. If you make $100 million at another hedge fund, you are a god. If you make $100 million here and someone down the street makes $400 million, you'd better be thinking about why you didn't make $500 million.
Ken Griffin
[In September 2001 looking back on getting a surprise when he first sold options and received less than what he perceived their value was thereby learning the reality of Wall Street’s bid-ask spread.] He paid me a discount to the intrinsic value of the option. I had been arbed. And I took it upon myself to find out why.
Ken Griffin
[In September 2001 looking back on comparing stock and convert prices for the little known convertible bond market and finding a discrepancy.] The price relationships just didn't look right.
Ken Griffin
[In September 2001 looking back as an 18 year old calling the local office ob First Boston Corp and explaining convertible bond market discrepancies to an institutional salesman.] They said, ‘It's not a strategy we recommend for the firm's clients, but we do it for our own account.’
Ken Griffin
[In September 2001.] What makes it fun is I like solving problems. I simply like having the opportunity to compete. You grow. You become a better person.
Ken Griffin
[In September 2001.] I try very hard to minimize the time I spend looking at the daily P&L. You end up fixating on a lot of noise.
Ken Griffin
[In September 2001.] Every organization has two choices. Choice one is to grow. Choice two is to die. If you decide not to grow, it's a clear-cut message to talented people that it's time to leave.
Ken Griffin
[In September 2001.] I believe we have built one of the best merger arbitrage businesses in the world, even though someone could have made the argument that it wasn't related to our strengths.
Ken Griffin
[In September 2001.] I try to surround myself with people who disagree with me. Successful people tend to be very overconfident about what they know, and it leads to tragic mistakes. That will not be the final chapter in my career.
Ken Griffin
[In November 2007.] When crises happen, we're well-situated to assess the situation and deploy capital. But we want to be a go-to player for any large trade, in good or bad times.
Ken Griffin
[In March 2008 on Goldman Sachs.] Goldman Sachs has undergone a brilliant transformation. It is now one of the world's greatest merchant banks.
Ken Griffin
[In March 2008 on Goldman Sachs.] The world is awash in conflicts. Firms either pretend they don't exist and get in trouble for it, or they recognize that conflicts exist and deal with them thoughtfully and openly. Goldman does the latter.
Ken Griffin
[In March 2008 more on Goldman Sachs.] They have put themselves right in the center of what's going on.
Ken Griffin
[In November 2008.] September was a devastating month for financial institutions and investors around the world. The decision of regulators around the world to ban the short-selling of equities created material dislocations across many of our portfolios and disrupted our ability to assume and manage risks.
Ken Griffin
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