JAKARTA – Ken Griffin, founder of Citadel, revealed that the best approach amid the trade war tensions sparked by US President Donald Trump last month was simply to hold cash.

“In retrospect, perhaps holding cash was the best way to handle it,” Griffin told Bloomberg. “But that is very much against our culture, which always aims to be aggressive, constantly seeking ways to create value in the market.”

According to Businessinsider.com on Wednesday (14/5), Griffin acknowledged that investing in April was very challenging, with tariffs rattling stocks and bonds before government policies shifted.

Those stocks eventually recovered losses caused by tariffs, but the journey since 2 April remained tough.

“This is a very difficult time for fundamental investors because so much of the value of the companies we invest in is affected by the rapid policy changes coming out of Washington,” Griffin said.

Nevertheless, some investors did their best to weather the tariff storm. Several large funds, including Citadel, managed to avoid losses.

Despite Griffin’s cautious remarks, Citadel’s main fund recorded a 1.3% gain over the month. Meanwhile, its global fixed-income fund posted a 4.6% return. (DK/ZH)