In a memo to employees of Griffin's $30 billion hedge fund, the billionaire wrote that the pandemic caused by the novel coronavirus is a "global health crisis."
The note, sent to Citadel employees last Friday, called the coronavirus pandemic "an unprecedented moment of global distress as the entire world faces this common invisible threat." Citadel has handled the volatility in financial markets well, despite getting dinged in relative value trades in the middle of March that lost the firm. The firm ended March up 1.2% after paring back some of the losses from the relative-value trades, pushing gains for the year up to 5.7%, a source familiar with the situation said.
In the blink of an eye, we now find ourselves juggling countless new demands on our time, mental capacity and emotional energy. Amid great uncertainty, it is natural to feel thrust into a tailspin. Few of us have ever faced this level of uncertainty in our lifetimes, and the weight of a myriad of new demands will impact each of us differently. We will all have our moments.
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