Citadel Investment Group Freezes Redemptions
The New York Times reports that Citadel has halted redemptions after major losses in its funds. With an increasing number of hedge funds halting redemptions, investors are finding out that getting back their capital isn't what they tought is was -- a right. Instead, withdrawals are increasingly becoming a privilege, one that may be granted when times are good but that becomes unavailable precisely at the moment most investors want their money back.