Hedge Fund Kings
The Financial Times has recently released their top 10 Hedge Fund manager list, and no surprise here, it’s pretty much a cross section of the funds found on this recent thread. (Which I just found out also has a link to the article… Moving on.)
Net gains for investors since inception was the measure used to rank the managers and a lot of surprising facts about their returns were given, like did you know Eddie Lampert’s ESL has earned more than British Airways over the same period?
Impressive yes, but Business Insider adds that Soros and Paulson combined has made more money than McDonalds and Walt Disney put together, now THAT my friends, is serious rainmaking.
Anyway without further ado, the rankings with net gains and time of inception:
1. George Soros of Quantum Endowment Fund, $32 billion in gains since 1974
2. John Paulson of Paulson & Co., $26.4 billion since 1994
3. Ray Dalio of Bridgewater, $13.3 billion since 1975
4. Bruce Kovner of Caxton Associates, $12.8 billion since 1983
5. Seth Klarman of the Baupost group, $12.5 billion since 1983
6. Alan Howard of Brevan Howard, $12.5 billion since 2003
7. David Tepper of Appaloosa Management, $12.4 billion since 1993
8. Louis Bacon of Moore Cap, $11.5 billion since 1990
9. Steve Cohen of SAC, $10.9 billion since 1992
10. Eddie Lampert of ESL, $9.5 billion since 1988
So there you have it, the kings of the HF industry.
Wonder how Buffett compares to these guys.
Soros and Paulson are genius and have good luck of course
By the way who is the youngest?
Lampert, i think..
Why was Jim Simmons omitted from the list?
I'm guessing he didn't make as much money as those guys did, a lot of big names didn't get in, Paul Tudor Jones for example, quite surprising really.
Jim Simons returned 45% every year since his funds inception. It's pretty ridiculous he is not on this list.
His main fund has never released numbers though. The Medallion is only Simmons' money and employees so they're never released anything on it.
Yea I saw it on CNBC the other day, when Melissa Lee interviewed Jim Simons
This metric is a little confusing to me. A return on assets would be a much better way to compare, both between managers and against industrial companys. It's impressive that ESL made more than British Airways, but it's probably even more impressive if you compare capital base.
I'm glad that link could be of use. Two possibilities for Simmons: either there just aren't any verifiable numbers, or the vast majority of the money in Medallion has been his for a long time, meaning he didn't make too much more than his own personal wealth.
It's interesting to see that the majority of them weren't the typical path most often discussed on this forum. If you are good, you are good. (Just like Buffett)
Surprised to see both Tepper and Paulson on there - those are clearly cases based more on luck than skill. They each made 1 really, really good trade.
Yup, more than half of Paulson's returns were made with his famous MBS trade alone- he went up that list solely on his performance over the past 3 years so I really don't think he counts.
Another thing about Simons, I'm not familiar with his funds but don't they have really high fees? That could probably be why he didn't make the list. Is that 45% before or after he takes his cut?
shame the ranking doesn't account for time. it would help to have a geo average some something like that
btw, georgey has made more net gains than north korea's gdp
http://en.wikipedia.org/wiki/North_Korea
It's interesting to see the lack of quant funds.
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