Billionaire Ken Griffin Shifts GOP Preference

Billionaire founder of Citadel, Ken Griffin, appears to have a new favorite candidate in the GOP presidential primary, signaling a potential shift from his previous support for Florida Gov. Ron DeSantis.

Endorsement for Nikki Haley

Griffin, speaking at the closed-to-the-media Robin Hood conference in New York, referred to former South Carolina Gov. Nikki Haley as “a rockstar.” He praised Haley’s momentum and experience, contrasting her favorably with DeSantis. Griffin expressed concerns about DeSantis’ recent policy decisions, suggesting that DeSantis needs to mature and justify his actions.

Political Analysis

Griffin emphasized the importance of key states in the primaries, stating that for DeSantis to have a chance, he must win Iowa. Similarly, he indicated that former New Jersey Gov. Chris Christie’s campaign would be over if he loses New Hampshire.

Seeking Alternatives to Trump

Griffin has been actively seeking an alternative GOP candidate to former President Donald Trump. Despite Trump’s dominance in polls, Griffin believes there’s a solid chance for a different candidate to win the 2024 election.

Market Insights

In addition to political commentary, Griffin discussed market trends, leveraging his expertise as the founder of market-maker Citadel Securities. He highlighted the risks associated with the growing shift to passive investment strategies in the derivatives space, emphasizing the importance of active management in maintaining market efficiency.

Call for Regulatory Consideration

Griffin called on the Securities and Exchange Commission (SEC) to support active management and ensure a conducive environment for the hedge fund community. He urged regulators to avoid burdening hedge funds with excessive regulations, emphasizing their critical role in market liquidity and efficiency.

Citadel declined to provide a comment on Griffin’s remarks, reflecting the cautious stance often taken by the firm on matters of political and market speculation.