Citadel Has a Big Short Against a Company Buffett Invested In
- Hedge fund increased its short wager on Lanxess by 26%
- Berkshire unit took 3% stake in German company this month
The Lanxess headquarters in Cologne, Germany.
Photographer: Patrik Stollarz/AFP via Getty ImagesThis article is for subscribers only.
Warren Buffett and Ken Griffin’s firms have taken opposing bets on a German chemical company.
Berkshire Hathaway Inc.’s subsidiary General Reinsurance AG said on May 29 it bought a 3 percent stake, worth about $200 million, in Lanxess AG. The same day, Citadel disclosed in a filing that it increased the hedge fund’s short position on Lanxess by 26 percent to $150 million.