Record revenues for operators of hedge funds
Posted by adminEarnings accumulated by hedge fund managers in the United States broke records in 2009. Top 25 ranking by the AR: Absolute Return + Alpha have pocketed a total of 25.33 billion dollars (18.6 billion euros) including seven of them reap more than $ 1 billion.
This amount is more than double that of 2008 when the financial crisis had led to some heavy losses. The previous record was in 2007 with a total of 22.3 billion dollars.
The CEO of this classification is the founder of hedge fund Appaloosa Management, David Tepper. He received a salary of $ 4 billion by betting on particular banks in financial difficulties, refusing to believe that banks may collapse or be nationalized.
John Paulson lost his crown and took fourth place
Now the new record earnings.The precedent being held by the manager of Paulson & Co., John Paulson in 2007, with 3.7 billion dollars. He gambled at the time on a drop in property prices. This year, he ranks fourth with $ 2.3 billion.
It is preceded by George Soros, the famous American billionaire founder of Soros Fund Management, which has won 3.3 billion dollars, and James Simons of Renaissance Technologies, who pocketed $ 2.5 billion. They are respectively the second and third in the standings. They already had good performance with their hedge funds in 2008, like John Paulson, while that of David Tepper had lost 27% this year, like most other hedge funds.
For many of these funds, the year 2009 has not necessarily been a good year. They took fewer risks and have struggled to make gains.In addition, Carl Icahn, sixth in the rankings, do not expect returns as high in 2010. He explained that last year the debt was really undervalued, while today it is fully valued.
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