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"Enron was the largest energy trading firm in the United States and they blew apart in a spectacular way in 2001. The day they filed for bankruptcy I chartered a Gulfstream jet and sent 16 people to Houston. And all we did was interview people at Enron for several days. [To find out] What worked, what didn't work, how they made money, how they ran the business, what the competitive advantages were. Now the great part about this story is I hired the entire leadership of the quantitative research effort at Enron. All the people that knew how the place worked. We've made $30 billion in commodities since then." There are a ton of unbelievably amazing stories like this in the Founders Podcast episode on Ken Griffin! Tap the link to the full video!
Ken Griffin discusses Citadel's comprehensive approach to understanding the energy trading industry by interviewing everyone involved in the trading operations at Enron. This 360° perspective allowed them to grasp the business's competitive edge, identify top employees, and build a successful framework for entering the energy market.
"Citadel interviewed everyone in the trading operation at all functions and all levels. Interview everyone and you get a 360°ree perspective of the industry, how the business makes money, its competiti..."