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Unlike Citadel, TCI has a history of forcing the board's hand using litigation. Hardly noise.

Also, TCI's AUM is now only 28B. They've had a harsh last few months.

Another thing is that Citadel is far more leveraged, and it has a discretionary AUM of around 285B, while TCI seems to have little to no leverage. So Citadel controls around 10 times more capital than TCI



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