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- SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures
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- JPMorgan Chase to Replace NYC Headquarters with 70-Story Skyscraper
- Citigroup Raises CEO Corbat's Pay 48% to $23Mn
- Should Congress Create a Crypto-Cop?
- JPMorgan Weighs Buying an Exchange-Traded Funds Firm
- Hey, Goldman Sachs: Wanna Buy BNY Mellon?
- SEC Order Rejecting Acquisition of Chicago Stock Exchange (CSX) by Chinese-Baesd Company
- Kyle Moffatt Named Chief Accountant in SEC CorpFinance
- SEC Suspends Trading in 3 Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology
- Karen Garnett, Assoc. Director of SEC CorpFinance, to Leave After 23 Years of Service
- Louisiana Adviser Barred for Hiding Losses from Investors
- Connecticut HF Manager Illegally Diverted Investor Money - Now Owes Nearly $13Mn
- White House Cleaning House of Advisors Without Full Security Clearance
- Goldman Projects 30% Growth in Wealth Management Advisor Force
- Whistleblower Alleges Manipulation of CBOE Volatility Index
- FINRA Looking Into VIX (CBOE Volatility Index) Manipulation: WSJ
- Atlanta-Area Resident Charged with Misusing Investor Funds - SEC
- FINRA Announces 2018 West Region Networking Seminar
- Alberto Arevalo, Associate Director in Office of International Affairs, to Retire From SEC
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Wall Street News
Well, At Least Some People Made Money with Hedge Funds in 2016
[Photo: James Simons, YouTube]
By Howard Haykin
Last year was difficult for hedge fund investors, with fair-to-middling results and significant redemptions. Yet, some hedge fund managers ‘managed’ to take down large paychecks for themselves - though it should be noted that, for most managers, the "earnings" figures include the appreciated returns on their own capital in the funds.
According to Institutional Investor’s Alpha magazine, the nation’s top 25 hedge fund managers earned a collective $11 billion for 2016, even though nearly half of them underperformed the S&P 500 Index - although it's nearly half of what the top 25 managers earned 3 years ago, when they pulled down $21.2 billion. It should be noted that much of their 'earnings'
Here’s the Top 10 money earners, according to Alpha:
- James Simons, Renaissance Technologies ..... $1.6 billion
- Ray Dalio, Bridgewater Associates ..... $1.4 billion
- John Overdeck, Two Sigma ..... $750 million
- David Siegel, Two Sigma ..... $750 million
- David Tepper, Appaloosa Management ..... $700 million
- Kenneth Griffin, Citadel ..... $600 million
- Paul Singer, Elliott Management Corp. ..... $590 million
- Michael Hintze, CQS ..... $450 million
- David Shaw, DE Shaw Group ..... $415 million
- Israel Englander, Millennium Management ..... $410 million
Among those sent from this year's Top 25 were Pershing Square's Bill Ackman (who stumbled on Valeant Pharma) and Paulson & C).'s John Paulson (who had a 2nd consecutive year of double-digit losses).