VIRT directional thesis
A listed market-maker's profits swell when volatility and wide spreads persist, the same regime that gave Citadel its best years; Virtu is the public proxy.
“He's founded Citadel, I think 35 years ago. And I think he founded Citadel Securities 23 years ago. And he just said, we've had the most, the best financial years of our entire life in the last 4 years.”9:22claim_id
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