Best-paid U.S. hedge fund managers take home $13 billion

[jpak]

Source: Business Insider

BOSTON (Reuters) - Hedge funds lost money for their investors last year but the industry's top-paid managers had a banner year, with five men earning more than $1 billion each in 2015, an industry survey released on Tuesday showed. (See the survey http://www.institutionalinvestorsalpha.com/HedgeFundRichList.html)

Together, the 25 best-paid hedge fund managers took home $13 billion, 10 percent more than the previous year. For many, computer models played a critical role in their success, according to Institutional Investor's Alpha's 15th annual ranking of the industry's highest-earning managers. (See the top-10 highest compensated hedge fund managers )

Citadel's Kenneth Griffin, who started trading from his Harvard dormitory in the 1980s, and Renaissance Technologies' James Simons, a former code breaker who launched his fund in 1982, each took home $1.7 billion in 2015 to tie for top honors. In 2014, they also took home 10 figures each but slightly less than in 2015, to claim the No. 1 and No. 2 spots.

Bridgewater's Raymond Dalio, Appaloosa Management's David Tepper and Millennium Management's Israel (Izzy) Englander rounded out the top five spots, with each man making more than an $1 billion in 2015, the survey shows.

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Read more: http://www.businessinsider.com/r-best-paid-us-hedge-fund-managers-take-home-13-billion--2016-5

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These delicate flowers needs a Trump tax cut!!1111

yup

[onecaliberal]

1. I'm pretty sure Clinton is the one owing them favors.

[GummyBearz]

3. ...

[mrr303am]

8. Why would you think so

Could it be all the speaking fees she received from them, can't be that she told us so.
Maybe she just wants to make sure her son-in-law is able to provide for her daughter, since he's employed at a hedge fund firm, can't fault her there we'd all do the same for our children if we could.

[scscholar]

26. They're the ones giving her money

Sounds like it's the other way around.

[My Good Babushka]

2. And 8 years after the crash

We continue to reward pump and dump capitalists that get rich on market manipulations. They do nothing, add nothing, and extract all the resources out of the economy.

[GummyBearz]

4. Hey come on now

Shuffling paper around on your desk counts as doing something. TBH these guys are literally robbing the rich blind (though it is for their own selfish reasons, they are not modern day robin hoods). The fees they charge and the typically less than market return they deliver is hilarious. Rich people give them tons of money to lose their money... mind boggling

[LittleGirl]

5. I obviously picked the wrong profession eom

[houston16revival]

6. We should start a Democratic Hedge Fund

Hedge fund managers are simply good traders with contacts

Good traders without contacts can do well too, just likely not $Billion well

Proprietary trader is an actual profession that trains hedge fund managers

All of this has grown up over the last 30 years with internet, computer
number crunching, technical analysis

[bluedigger]

7. I bet the worst paid ones aren't hurting, either.

Unless you get caught by the Feds it's a no fail business.

[I Bought the Law]

9. Where I come from

repeated failure doesn't typically lead to a fat raise. Crime pays.

[JohnnyRingo]

10. I don't get it.

Are they overpaid, and if so, what is wrong with that? If they do a job in a way that no one else can, why should there be a cap on what they're compensated? They aren't baseball players.

Warren Buffet is probably the most prolific investor in the world and that earned him a spot as one of the wealthiest men in the world. That's how it's supposed to work in the private sector.

That doesn't mean regular working people aren't underpaid, they are, but cutting the pay of hedge fund managers wouldn't improve the lives of the working class one iota. Who's next, are we going to complain about how much money Bruce Springsteen takes home?

This article is meant as a piece on the country's top investors but is being used here as a prime example of the evil wage gap. Raise the floor, don't lower the ceiling.

[mopinko]

12. as long as they pay a fair tax rate, i dont have a problem.

except that they dont.

[JohnnyRingo]

14. I agree.

But the overall response seems to be that they're greedy for sweeping up so much money. The team owners use the same logic to enact salary caps on sports figures.

Indeed, the very next reply behind this one could be right out of an NFL team owner's mouth.

[d_legendary1]

22. Its not so much about how much money they swept

but how they are sweeping it. The housing crisis occurred because of NINJA Loans (No Income, No Job or Assets) that went largely unregulated. The Financial Crisis (credit default swaps based on NINJA Loans that were sold to retirement funds) assured them a guaranteed pay day that cost people their retirements. Not only did they take money from our 401(k)s, they also insured a bad product (NINJA Loans) and caused AIG to fail. Though several financial institutions failed (Countrywide, Lehman Bros.) as a result they were quickly bought out by the competition that saw what was going on (Bank of America, JP Morgan Chase). In short they created assets out of thin air, sold them to us, and got paid with real money when their assets became liabilities to the asset holders.

It should be no surprise to anyone how they make hundreds of billions of dollars while the working class investments continue to shrivel up.

[milestogo]

11. They must be really brilliant and hard working

to be worth so much more money than the rest of us.

[mopinko]

13. i know a little bit about citadel.

they are based here in chi. they have a rep for paying top computer people great wages, but they work them to death. the people that i knew who worked for them all burned out in a couple of years.
my ex could have worked for them, they offered him long dough. but he knew too many people who thought griffen was one of the worst tyrants in a tie ever.

[Phil1934]

15. Warren Buffett

bet a hedge fund manager $1 million to go to charity he could pick a market index fund and outperform a hedge fund after one year. He is winning.

[Kablooie]

16. Do you realize that if you had just 1 billion dollars when you were 30...

You'd have a guaranteed income of well over 16 million dollars a year until you were 100 years old.

[packman]

17. What concerns me is -

"earning" that much - where does it come from? Eventually, someone, somewhere has to pay for it.

[Demonaut]

18. worth every penny

in a mound, on top of them

[Victor_c3]

19. Sounds great to me!

I don't see the problem. Why are people being shamed for being rich? They obviously work harder than the rest of us.

Everyone in America can be rich if they are willing to work hard enough. Instead of begging for a livable wage of $15 an hour all of those minimum wage workers need to get jobs being billionaire hedge fund managers.

Fuck the poor! If they want their vote to count then they should own corporations and donate to a super pack.

poor people don't deserve a livable wage and healthcare. Those worthless eaters would be better off dead!

[sulphurdunn]

20. If memory serves,

the year the economy crashed the top 12 or so of these 'entrepreneurs' took in more than the combined deficits of all 50 states. Millions of people lost their homes, livelihoods and life savings. Many lost their families, their minds, and even their lives. The hedge fund gamblers were largely successful creating that investment opportunity because they bet on the global economic collapse they helped engineer.

[intrepidity]

21. The funds LOST money, but the managers made out like bandits?

How does that work, exactly?

[d_legendary1]

23. We used to call that fraud

Now a days its called "smart investing".

[moondust]

24. Heroes of capitalism

seemingly do absolutely nothing to benefit anybody other than themselves. The guy who picked up my trash a couple hours ago would seem to have more intrinsic value than a hedge fund manager, yet is only paid a tiny fraction of what the hedge fund Gods extract.

I'll take "Insider Trading" for a billion, Alex.

[valerief]

25. What a waste of resources. nt