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Ken Griffin knows what makes Citadel work
After 25 years, Citadel has become a $25 billion hedge fund. The firm took a hard hit during the financial crisis, but has since recovered, writes the New York Times.
"In our firm's earliest days, our understanding of the power of great software engineering and quantitative analytics helped Citadel stand out," writes Griffin in a letter to investors. "But history is littered with companies started by entrepreneurs who failed to sustain such early bursts of success...What, then, has driven our longevity and our success? The answer is simple: Our sustainable competitive advantage doesn't just come from our technical prowess; it comes from assembling teams of extraordinary individuals who have the creativity, resourcefulness, ambition and tenacity to take on the world."