Business Blog: Hoover’s Business Insight Zone

Context: This New York Times DealBook item.

Brace yourself for what? Two things:

1. The competitive ambitions of Citadel’s chief, Kenneth Griffin. They are outsized.

2. The breathlessness of the business media in covering Citadel. My prediction: you will come to think that Citadel invented sliced bread, air conditioning, and the game of basketball, and that they can create money by sheer force of will. (If you don’t believe me, just cast your mind back to the coverage of Blackstone’s IPO . . .)

As I’ve said before, all companies can benefit from good timing when entering the IPO market, but some companies — the Googles of the world — can make their own IPO market.  My sense is that Citadel rests nicely in that latter category.