We have our Madoff 2.0:
We have our Madoff 2.0 and he’s running the largest market-making business on Wall Street.
Just finished ‘Madoff: the Monster on Wall Street’, Netflix’s new documentary about Bernie Madoff.
It ended like this, ‘there will be another Bernie Madoff in the future, mark my words.’
Chilling words and think we know who the next one is going to be.
The head of Citadel, one of the largest donors to the Republican party and one of the richest, most powerful men on Wall Street.
The similarities between him and Madoff are staggering.
Bernie Madoff was a market maker and ran an investment advisory business on the side.
Citadel is the largest market maker on Wall Street and has one of the largest hedge funds in the world.
Bernie used to take his employees to the Hamptons and pay for all their expenses.
Citadel just moved their operation down to Florida, they paid for all their employees to go to Disneyland and bought up a bunch of Florida real estate.
Bernie was the darling of Wall Street and was well guarded by the investment banks and regulators.
Citadel’s largest customers are the Wall Street banks who they pay billions to front-run retail trades.
Bernie never seemed to lose money, even in down markets and had returns that outpaced everyone else.
The Financial Times just published an op-ed talking about how a certain CEO made billions of dollars in revenue and had a crazy up year when the market tanked in 2022.
How is someone making 30-40% returns in a year when everything tanked? Does that not seem weird to you?
Is Citadel really that good or is something else going on behind the scenes?
Right now their CEO is looking like he’s having his moment in the sun, but as we’ve learned from Icarus, if you fly close to the sun, everything can come crashing down.
Just wait till the next crisis comes, Gamestop shoots to the moon, people lose everything at the hands of Wall Street and Citadel is found to be at the centre of it all.
Maybe then the world will wake up to Madoff 2.0
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