Key Takeaways
- • David Tepper's Appaloosa topped the 2009 hedge fund earnings ranking with an estimated $4 billion, according to Business Insider's list compiled from Absolute Return+Alpha data.
- • George Soros (Soros Fund/Quantum Endowment, $3.3 billion) and James Simons (Renaissance Technologies, $2.5 billion) ranked second and third.
- • John Paulson (Paulson & Co, $2.3 billion) ranked fourth, while Steve Cohen (SAC Capital, $1.4 billion) placed fifth.
- • The top 10 list spanned earnings from $825 million (Phil Falcone, Harbinger Capital) to $4 billion, with Ed Lampert and Carl Icahn tied at $1.3 billion.
Summary
Business Insider published its ranking of the top 10 earning hedge fund managers of 2009, with earnings figures attributed to Absolute Return+Alpha. David Tepper of Appaloosa Management led the list with approximately $4 billion in earnings. According to the article, Tepper's gains stemmed from distressed debt positions in bank assets that were acquired after the financial crisis and paid off as those institutions recovered.
The list places George Soros (Soros Fund/Quantum Endowment) second at $3.3 billion and James Simons of Renaissance Technologies third at $2.5 billion. The article notes that Simons retired in January 2010 and that Renaissance employs 90 PhDs. John Paulson of Paulson & Co ranked fourth at $2.3 billion, with the article noting his gold-only fund had underperformed. Steve Cohen of SAC Capital ranked fifth at $1.4 billion.
Rounding out the top 10 were Carl Icahn (Icahn Capital) and Ed Lampert (ESL Investments), tied at $1.3 billion; John Arnold (Centaurus Advisors) and Ken Griffin (Citadel), tied at $900 million; and Phil Falcone (Harbinger Capital) at $825 million. The article states Falcone returned 46.55% for 2009. The article also references Paulson's 2008 earnings from his bet against subprime mortgage bonds as a prior-year benchmark.
The list places George Soros (Soros Fund/Quantum Endowment) second at $3.3 billion and James Simons of Renaissance Technologies third at $2.5 billion. The article notes that Simons retired in January 2010 and that Renaissance employs 90 PhDs. John Paulson of Paulson & Co ranked fourth at $2.3 billion, with the article noting his gold-only fund had underperformed. Steve Cohen of SAC Capital ranked fifth at $1.4 billion.
Rounding out the top 10 were Carl Icahn (Icahn Capital) and Ed Lampert (ESL Investments), tied at $1.3 billion; John Arnold (Centaurus Advisors) and Ken Griffin (Citadel), tied at $900 million; and Phil Falcone (Harbinger Capital) at $825 million. The article states Falcone returned 46.55% for 2009. The article also references Paulson's 2008 earnings from his bet against subprime mortgage bonds as a prior-year benchmark.
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