Knight Capital Is Exiting the Hedge Fund Business

The Wall Street Journal reports that Knight Capital Group (NITE) is selling off its hedge fund business. My only complaint is that they’re probably selling at the low, but make no mistake, this is a very good move on NITE’s part. Their hedge fund business has been a drag on earnings and I like to see company’s focus on their core businesses and not get involved in messy side business. Knight Capital is a very strong buy.

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