Of liquidity and utility

Citadel Investment Group has constantly redefined what it means to be a cutting-edge hedge fund and has extended its business to include an ever-wider range of activities. In a rare interview, Navroz Patel talks to the iconic firm's founder and chief executive, Kenneth Griffin

In the same year that Risk was launched, an 18-year-old Harvard University economics student named Kenneth Griffin decided to try his luck in the markets, buying a put option on a stock that a US business magazine article had claimed was overpriced. It proved to be a good trade, but brokerage costs depleted profits and the frustrated student wondered if there was another way that this kind of