Grave Dancer or White Knight?
I was reading this New York Times article on the bust of Sowood Capital, and I like this quote from Citadel founder, Ken Griffin, about their purchase of Sowood’s portfolio:
“This transition provides for an orderly transference of risk between the parties.”
That’s kind of funny considering you could say that about any “transition” in the markets. The author also says this:
Mr. Griffin’s penchant for taking advantage of these opportunistic transactions has led some in the hedge fund industry to refer to him as a grave dancer.
Interesting, because I have also read that Citadel is referred to as a white knight, at least in reference to Amaranth.
Can a person or entity be both a Grave Dancer and a White Knight?
