Alpha's Hedge Fund Losers: Magazine Lists 8 Worst Performers

Alpha magazine has published a list of the worst performing hedge fund managers in 2008.

The group of eight lost a combined $6.2 billion in personal wealth last year, after earning more than $3 billion in 2007.

Topping the list is Kenneth Griffin of Citadel Investment Group, who lost $2 billion in 2008 after earning $1.5 billion in 2007.

Edward Lampert of ESL Partners came in second, with a $1 billion loss in 2008 after earning $1.1 billion in 2007.

Steven Cohen of SAC Capital Advisors was third, with a $750 million loss in 2008, which followed a $900 million boon in 2007.

Jeffrey Gendell of Tontine Partners took the number four spot by losing $625 million last year after gaining $190 million the prior year.

Stephen Mandell Jr. of Lone Pine Capital was next up, with a $550 million loss following his $710 million gain in 2007.

Energy magnate T. Boone Pickens Jr. and his BP Capital MGMT lost $450 million after earning $370 million the prior year.

David Tepper of Appaloosa mgmt was number seven with a $425 million following his $350 million gain, and last on the list was activist investor Carl Icahn, whose Icahn Enterprises lost $400 million in 2008 after earning $300 million in 2007.

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Alpha magazine has published its list of the worst performing hedge fund managers of 2008. The eight mega managers lost a total of $6.2 billion in personal wealth last year, after earning more than $3 billion in 2007.

Comments

[Joshua Sophy]

Please read this article on Arthur Nadel, a guy basically flying under the radar in the wake of the Madoff scandal: http://www.newsinferno.com/archives/5380#more-5380

[AN2009]

I can't say that I feel bad for these hedge fund managers!

[JnrNorman]

Outlaw derivatives, reinstate Glass-Steagal. Get rid of MARK to MARKET bank accounting. Regulate Hedge funds. Get rid of the FED;

http://video.aol.com/video-detail/the-obama-deception/1757361927

[PhilipTaylor]

HEDGE FUNDS = DE-STABILIZATION OF THE AMERICAN ECONOMY

HEDGE FUNDS = A SICKNESS OF SHORTING OUR ECONOMY

HEDGE FUNDS = TOOLS OF THE RICH EL1TE
__________­__________­__________­__________­__________­___

HEDGE FUNDS GREW at a Horrible COST to EVERY AMERICAN!

FBI Please Investigate the impact of their SHORTING on the Bankruptcy of all the Banks and other companies!

They caused the need for these massive Bailouts and are the LARGEST SINGLE Destabilizing force in the Markets, costing Taxpayers $Trillions in Bailouts and $10 Trillion in FED Loans, while they pocketed the $TRILLIONS!

[Carolab]

HOW TIM GEITHNER BECAME SECRETARY OF THE TREASURY

http://www.commoditynewscenter.com/articles/Insight/How_Geithner_Became_Secretary_of_the_Treasury

WAKE UP PEOPLE

[PhilipTaylor]

I get a little "Pu_kish" going through the pictures!

To think these characters were the “K1NGS OF HEDGE FUNDS!”

[Carolab]

I get "pukish" looking at this:

JPMorgan again tops Hedge Fund 100 list in 2008, Paulson jumps 61 ranks to #8

http://www.opalesque.com/IndustryUpdates/1/JPMorgan_again_tops_Hedge_Fund_100_list_in.html

Biggest Hedge Funds Grow By 35%, JPMorgan Keeps Top Spot
May 21, 2008

The hedge fund rich are getting richer, market turmoil notwithstanding.

The world"s largest hedge funds grew by 35% last year, according to Alpha magazine"s annual ranking. The top 100 firms manage $1.35 trillion, or 75% of all hedge fund assets under management. The top 10 firms manage $324 billion"almost one-fifth of total hedge fund assets and up 29% from 2006.

This lists the TOP 25 Hedge Funds for 2008:

http://www.finalternatives.com/node/4404

[Carolab]

Alpha Magazine's 2008 Top Moneymakers

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

WHAT DID THESE GUYS KNOW, AND WHEN DID THEY KNOW IT?

HOW MANY OF THEM ARE "COUNTERPARTIES" TO THE DERIVATIVES BETS THAT WE PAID OFF?

[PhilipTaylor]

HEDGE FUNDS = DE-STABILIZATION OF THE AMERICAN ECONOMY

HEDGE FUNDS = A SICKNESS OF SHORTING OUR ECONOMY

HEDGE FUNDS = TOOLS OF THE RICH EL1TE


HEDGE FUNDS GREW at a Horrible COST to EVERY AMERICAN!

FBI Please Investigate the impact of their SHORTING on the Bankruptcy of all the Banks and other companies!

They caused the need for these massive Bailouts and are the LARGEST SINGLE Destabilizing force in the Markets, cost Taxpayers $Trillions in Bailouts and $10 Trillion in FED Loans, while they pocket the $TRILLIONS!

[dgscol]

The calamity we are in could not have happened, if it had not been for hedge funds. These are short term, often aggressive uses of the stock market that are not monitored by the SEC. The laws that allowed them were set back in the 30's, in an environment with few wealthy people in an noninflated economy. In an inflated economy these funds are dangerous, unregulated, and upset the stability of development that people seek. It was the vehicle for exporting US companies to China.

They were once the playground of the idle rich, and now anyone who can rub two sticks together can run a totally unregulated fund. That is bad - when you find almost every financial institution hedging against large risk.

[truthynesslover]

Where is the justice department??
We need investigations now!
There isBIG TIME gaming going on.
Is it all happening too fast?

[Carolab]

Yes, it is all happening WAY too fast. They are ramming this down our throats because if they wait the taxpayers will get up to speed and fight back.

[Carolab]

Meanwhile:

John Paulson's hedge funds WON big:

Four of Paulson’s funds were among the 20 best- performing, and the 20 most profitable, hedge funds for the first nine months of 2008, according to data compiled by Bloomberg, other hedge fund research firms and investors.

$1.05 Billion Profit

The Paulson funds’ gains ranged from 15 percent to nearly 25 percent. Based on those returns, they were on track on Sept. 30 to furnish Paulson & Co. with $1.05 billion in profits.

Paulson’s performance was a striking success in a disastrous 2008 for hedge funds.

The exceedingly "prescient" Paulson bet against Lehman's and shorted it -- just in the nick of time.

And just after Mr. AIG Hank Greenberg's CV Starr Investment put $6B into it -- 3 months later, Lehman's collapsed.

Coincidence? You be the judge.

http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=aOvxkpPjBb_o

[PhilipTaylor]

BIGGEST LOSER = JOHN PAULSON = $3.7 Billion in his pocket by ruining COMPANIES!


John Paulson capitalized on foreclosure of "SURE FAIL" mortgage backed securities markets damaging AIG and many other companies so they needed Massive TAXPAYER MONEY for BAILOUTS. And he is taxed at 15% while his secretary is taxed ate 28%!


He WINS the BIGGEST LOSER OF ALL "HUMANITY" AWARD!

[Carolab]

I wonder how Mr. John Paulson will "capitalize" on the Geithner toxic private-public partnership.

[outragedbystupidity]

hedge funds didn't cause the financial mess...leverage did. if you can borrow tons of money at a cheat rate and make bets with other people's money, you can win big. if you lose, you only lose other people's money.

the potential demise of lehman was in the news for a while before it tanked. anyone could have taken advantage of that information.

[FreezePop]

Wow. This is really "kicking butt and taking names". But, not sure if I like this trend. Aiming blame for a national problem towards a few random individuals is unsettling. Seems weird.

[booboo111]

And they all received huge bonuses, to be sure....

[Carolab]

Instead of looking at who "lost", your direction should be turned to who "won", instead.

And why.

John Paulson, for example, above.

Did you see Goldman Sachs' hedge funds on this list? Caryle Group? Blackstone Group? JPMorgan's Global Equity or Millennium Capital Management? Farallon Management? D.E. Shaw? Bridgewater Associates?

JPMorgan again tops Hedge Fund 100 list in 2008, Paulson jumps 61 ranks to #8

http://www.opalesque.com/IndustryUpdates/1/JPMorgan_again_tops_Hedge_Fund_100_list_in.html

Biggest Hedge Funds Grow By 35%, JPMorgan Keeps Top Spot
May 21, 2008

The hedge fund rich are getting richer, market turmoil notwithstanding.

The world’s largest hedge funds grew by 35% last year, according to Alpha magazine’s annual ranking. The top 100 firms manage $1.35 trillion, or 75% of all hedge fund assets under management. The top 10 firms manage $324 billion—almost one-fifth of total hedge fund assets and up 29% from 2006.

This lists the TOP 25 Hedge Funds for 2008:

http://www.finalternatives.com/node/4404

[enquiringmind]

The hedge funds have not only harmed the wallets of many people they also don't much care where they spend the money in the search of ever greater profit..even if it means raping the planet while they are up to it. That is as egregious as the money part and the damage longer term.

[themodernleader]

Hedge fund operations, derivatives, mortgage backed securities, all other leveraged financial weapons, gambling casinos---- all are enemies of a sound economic and financial system.

[MadeinAmericaProud]

So is the 401K so call retirement plan through the stock market congress made legal with the tax deferred scam. So what else is new. Would you believe the things you are talking starting as far back as 1987 with AIG. A man who use to work at AIG wrote a tell all book was on C-Span recently and he spilled the happy news of how long this has been going on and who started it.

Ronald Reagan was in office and the saving and loans people was able to move and recreate what scam they started without getting caught for years. The house of cards began on a Republican President and if fell down on a Republican President.

Yet, the GOP is blaming President Obama. If the other half manage to win the republicans back in the WH, they will have pulled the trigger on themselves for sure.

[fcsakes]

The biggest losers were the citizens of the United States - many of us will never be able to recoup our life savings. These a**holes still have plenty of money. They didn't lose enough unless they lost every last dime they had and all their homes, cars, and property.

[RJB Boston]

Er, the average US citizen has no exposure to hedge funds

[Carolab]

Who do you think the counterparties are? THE HEDGE FUNDS.

[Carolab]

WHO do you THINK we are bailing out? The big banks are the prime brokers for the hedge funds.

[PhilipTaylor]

It’ the SHORTING THE HEDGE FUNDS did that took all our money. They made quick work of company after company after company using their LEVERAGED or NAKED SHORTS to wipe out shareholder value.

An UNETHICAL and perhaps CRIMINAL Practice using "Insider Information!"

[AN2009]

You just got pawned.

[PhilipTaylor]

BIGGEST LOSER = JOHN PAULSON = $3.7 Billion in his pocket by ruining COMPANIES!

John Paulson capitalized on foreclosure of "SURE FAIL" mortgage backed securities markets damaging AIG and many other companies so they needed Massive TAXPAYER MONEY for BAILOUTS. And he is taxed at 15% while his secretary is taxed ate 28%!

He WINS the BIGGEST LOSER OF ALL "HUMANITY" AWARD!

[johnnygoodwud]

bad karma boys,,,,,,­,,,,,,,you reap what you sow

[Frank Smith]

Icahn seems like a decent guy. He's big on shareholders' rights. I like what he has to say although I doubt in the current mess anything will get done about it.

[AN2009]

Only when it's to his benefit...

[research]

Yet the fools still believe they can "hedge" their bets with derivatives.