
Recession? Fogetaboutit! Don't talk of recession to hedge fund managers. Despite the economic downturn, there are plenty of millionaires, and billionaires, on the latest ranking of the top 25, according to Alpha Magazine.
While in the past, many may not have cared so much about how much hedge fund managers make, in the wake of the recession more are interested in how these mavens, many of whom may be blamed for our current situation, are doing, cash-wise. Quite well, says the Alpha Magazine report.
In fact, according to Alpha Magazine, the world's 25 top-earning hedge fund managers raked in a staggering $11.6 billion last year, according to the annual ranking released Wednesday.
Worse, or better, depending on how you look at it, the
press release indicates that 2008 is the third-best year on record since Alpha Magazine began compiling its numbers.
A dozen managers appear on the Alpha Magazine ranking for the very first time, with a record nine European managers.
According to Alpha Magazine, it calculates hedge fund manager earnings using the managers' shares of their firm’s performance and management fees, as well as gains on their own capital.
Here is the list of Alpha Magazine's top 25 moneymakers for 2008, although only the top 10 currently have income figures attached to their names.
Alpha Magazine plans to release information for the remaining managers on Thursday.
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
12. James Chanos Kynikos Associates
13. Michael Platt BlueCrest Capital Management
14. Roy Niederhoffer R.G. Niederhoffer Capital Management
15. John Horseman Horseman Capital Management
16. Paul Touradji Touradji Capital Management
17. Henry Laufer Renaissance Technologies Corp.
18. Kenneth Tropin Graham Capital Management
19. Pierre Andurand BlueGold Capital Management
19. (tie) Dennis Crema BlueGold Capital Management
19. (tie) Christopher Rokos Brevan Howard Asset Management
22. (tie) Christian Baha Superfund
22. (tie) Christian Levett Clive Capital
24. William Dunn Dunn Capital Management
25. Andrew Hoine Paulson & Co.
Hedge funds are private investment funds that are targeted mainly at wealthy individuals and institutions. Unlike mutual funds, which can only bet on stocks going "up" and dividends, they use a variety of investment methods, ranging from short selling to currencies and mergers to traditional stock picks.