Hedge Funder Ken Griffin: 'If I Could Wave A Magic Wand, I Would Break Up The Banks'
Sorkin began the conversation with the topic of banking.
"If I could wave a magic wand, I'd break up the banking system," Griffin said.
Griffin said that he would break up the big banks because they are both too big to fail and too big to manage.
He also said that he would pull the securities business out of the banking system.
Sorkin asked him if he supported the Occupy Wall Street Movement.
"No, I do not," Griffin replied.
Griffin moved on to discuss the influence central banks have had on risk taking activities around the world. He also questioned the effectiveness of quantitative easing (QE).
Sorkin asked him where he sees the market going.
"We don't try to profit by picking the direction of the stock market," Griffin explained, adding that they're in the game of picking individual stocks which he believes will outperform.
The conversation shifted to the recent insider trading charges against SAC Capital Advisors.
Griffin noted that Steve Cohen is having "one of his darkest moments." He said it's unfortunate that a few bad apples put a cloud over the hedge fund firm.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market