Who were the top two top hedge fund managers to do well in 2009, a down year, and approximately what were their record payoffs?
Check your answers.
First place goes to hedge fund manager David Tepper, (formerly of Goldman Sachs), whose fund, Appaloosa Management realized a record 4 billion gain by betting strongly that the government would step in to prevent bank failures. His clients saw a 130 percent return. Second place goes to George Soros, known for his political views and Democratic Party support, whose Quantum Endowment fund grew by 29 percent to earn Soros $3.3 billion in fees and investment gains.
The top ten who separated themselves from the have-nots of the hedge fund industry last year can be found here, along with their photos. The Full List of the Wealthiest Fund Managers is available at the subscription only site AR: Absolute Return+Alpha magazine, and this radio segment by Louis Story of The Takeaway gives a peek at surprising earnings data that shows that the top 25 earning managers pulled in a collective $25 billion last year alone.
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