Growth5 Blog

Wednesday, April 1, 2009

Top Ten Hedge Fund Managers for 2008

Disclaimer: the amounts these managers made are real, although it looks like it, this is not an April Fools' joke!

From Alpha Magazine:

"Times may be tough for most folks, but not for the top moneymakers on Alpha magazine’s eighth annual ranking of the world’s highest-earning hedge fund managers. They took home, on average, an anything but average $464 million apiece in 2008. Four hedge fund managers took home more than $1 billion each. Altogether the 25 highest-earning hedge fund managers made $11.6 billion, making 2008 the third-best year on record since Alpha began compiling its exclusive ranking.

Alpha uses two components to calculate earnings: the managers’ shares of their firm’s performance and management fees, as well as gains on their own capital invested in their funds."

The index below is a guide to the profiles of this year’s top-earning managers. Click on the bolded names below to read the top 11 hedge fund managers' profiles.
Rank Name Firm Name 2008 Earnings
1 James Simons Renaissance Technologies Corp. $2.5 billion
2 John Paulson* Paulson & Co. $2 billion
3 John Arnold Centaurus Energy $1.5 billion
4 George Soros Soros Fund Management $1.1 billion
5 Raymond Dalio Bridgewater Associates $780 million
6 Bruce Kovner Caxton Associates $640 million
7 David Shaw D.E. Shaw & Co. $275 million
8 Stanley Druckenmiller Duquesne Capital Management $260 million
9 (tie) David Harding Winton Capital Management $250 million
9 (tie) Alan Howard Brevan Howard Asset Management $250 million
9 (tie) John Taylor Jr. FX Concepts $250 million

*John Paulson has made piles of cash off of the credit crises. "As early as 2005, he was shorting risky pools of collateralized debt obligations and buying credit default swaps on the cheap. Last year he persisted in his bearish ways, which added enormously to his already huge pile of wealth. Although he didn’t repeat his eye-popping results of 2007, when he led the top-earner list with a $3.7 billion payday, most of his funds were up by double-digits, including the biggest — Paulson Advantage Plus — which surged 37.6 percent net of fees."

Where is Paulson looking in 2009? He recently invested $1.3 billion in gold.

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