25 top-earning hedge fund managers earned $25.3 billion overall in 2009

[Omaha Steve]

http://topnews.us/content/215341-25-top-earning-hedge-fund-managers-earned-253-billion-overall-2009

Submitted by Harkamal Singh on Sun, 04/04/2010 - 13:35

* Finance Sector

According to a Thursday release by Institutional Investor’s AR: Absolute Return+Alpha, a magazine reporting proceedings in the hedge fund industry, the top hedge fund managers received record-high paychecks in 2009, after the turnaround of the financial markets.

As per the statistics, the 25 best-paid hedge fund managers earned a record $25.3 billion overall last year – topping the 2007 all-time record high of $22.3 billion payouts; and marking a two-fold increase in the payouts the managers received in 2008, when most of the leading hedge funds reported heavy losses due to the financial crisis.

Going by the annual ranking released by AR: Absolute Return+Alpha, the list of the highest-paid managers had David Tepper of Appaloosa Management in the top spot; followed by the Hungary-born investor George Soros in the second spot; and last year’s topmost earner James Simons of Renaissance Technologies in the third place.

While Tepper earned $4 billion in 2009 on investments in the financial sector; Soros earned $3.3 billion; and Simons took home $2.5 billion. Altogether, seven of the world’s leading hedge fund managers earned 10-figure paychecks.

Noting that “hedge funds that survived 2008 were able to capture the gains on the way up in 2009,” Nadia Papagiannis, a hedge fund analyst at Morningstar, elaborated that hedge fund returns showed a notable 19.6 increase in 2009, as compared to a 22 percent loss in 2008.

[Cirque du So-What]

1. NOBODY is worth that much fucking money

An average of over a BILLION FUCKING DOLLARS EACH? I don't give a good goddam WHAT they did for their respective companies, that is absolutely obscene.

[Toucano]

4. +1

Nobody!

[RB TexLa]

2. Good for them

[moondust]

3. Did they do anything of actual value?

The guys who pick up my garbage perform a valuable service. For quite a bit less.

[kenny blankenship]

6. Absolutely!

they bought pieces of paper representing an interest in something, and here's the important part, BEFORE the rest of the crowd found out that they were going to buy those pieces of paper. Actually they aren't printed out pieces of paper, but digits that electronically represent pieces of paper that represent an interest in something. Then, AFTER the crowd discovered they had bought those computerized representations of paper representations of an interest in something, or after they had correctly deduced that they would buy them and piled into the same investments, they SOLD them.

If you doubt they do something "of actual value", just look at all the money they make doing it! That should silence your doubts. My God, man it's like they breathe and perspire money. They can mint coin from their very dandruff.

[Toucano]

8. You make it sound so...undemocratic & self-perpetuating

Well done.

[Name removed]

14. Deleted message

Message removed by moderator. Click here to review the message board rules.

[unabelladonna]

5. OBSCENE.

n/t

[mod mom]

12. that's the word that came to my mind.

[Toucano]

7. This would be such wonderful news if we had a tax structure of 1962.

Unemployment extension? No problem!

Funding for schools? No problem!

Rebuild Haiti? Here, ya' go.


If only.....

[Lorien]

9. +1. nt

[walldude]

10. Wow.. how are they ever going to make ends meet...

[inna]

11. Pigs at the trough.

[Canuckistanian]

13. And just think - these guys are only getting A CUT of the total profits

The rest of that money is going to their firms and their clients. And God knows how much THAT was.

Obscene is indeed the word.

[amborin]

15. scariest thing: public pension funds like Calpers paid high fees & got low returns:

http://dealbook.blogs.nytimes.com/2010/04/03/pension-funds-fail-to-reap-private-equitys-rewards/?scp=1&sq=pension%20funds%20calpers%20hedge&st=cse

[eppur_se_muova]

16. ERROR IN TITLE: "Collected", not "earned". nt

[Flaneur]

17. They should be expropriated, or taxed at 95%.

Fucking parasites.