The 25 highest-earning hedge fund managers of 2013 raked inroughly 50 percent more than in each of the previous two years, according to anannual ranking released Tuesday.The ranking, dubbed "The Rich List" by Institutional Investor's Alpha, said the top 25earners made $21.2 billion last year. In 2012, earnings totaled $14.1 billion, thelowest sum since the 2008 financial crisis.David Tepper, founder of Appaloosa Management, ranked first with $3.5 billion inearnings, scoring huge gains with well-timed investments in airlines, includingAmerican Airlines and United Continental Holdings.Tepper, who was also first in the ranking in 2012 with $2.2 billion, "astutely" sold holdings in financials and auto-related stocks, the Institutional Investor'spublication said.Steven Cohen, founder of SAC Capital, moved up from third to second place bytaking home $2.4 billion, even as his hedge fund dealt with a criminal indictment, a$1.8 billion federal settlement and subsequent guilty plea over US charges of insidertrading. It will be his last time on the list. As part of its settlement with the government, SACagreed to no longer trade on behalf of outside investors; that means Cohen will nolonger be eligible for the list, Institutional Investor's Alpha said. Two others earned more than $2 billion in 2013: John Paulson of Paulson & Co. ($2.3billion) and James Simons of Renaissance Technologies ($2.2 billion.)This year's list included three first-time members: Greenlight Capital's DavidEinhorn, Highfields Capital Management's Jonathan Jacobson and Trian Partners'sNelson Peltz. In spite of the huge gains for the group as a whole, "2013 was hardly the mostprofitable year for the highest-earnings managers as a group," the publication said.The record came in 2009 when the wealthiest hedge fund managers garnered $25billion.The 2013 earnings were the fourth highest in the 13-year-old rankings, while the average combined earnings of $846 million were the fifth best.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor