holy shit. still nothing beats Kenneth Griffin taking home over a billion after losing half his fund. where on earth can you get a compensation agreement like that?

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http://www.informationarbitrage.com/2006/09/my_kind_of_mana.html

His compounded returns are in the stratosphere, but the ride has been very, very rocky. This is the kind of manager that can drop 50% or be up 150%. Only certain kinds of investors can stomach this degree of volatility. One thing for sure, he is a purist. He knows what he knows and he does well what he does well, and this kind of strategy generates extremely volatile returns. So either accept this and live with it or get out.

This is an older post (and about Delphi...which didn't turn out too well), but interesting thoughts on Tepper.

 
GoodBread:
Great read there Pink Monkey.

What are you thoughts on managers who move from a pure-strategy to become huge multi-strat funds like all the GSPS alumn have done (except maybe for Lampert, who hasn't done so hot lately)? As awesome is Tepper is at what he does, it seems like one can move around the event-driven spectrum a fair deal without sacrificing returns.

Not sure if you follow SHLD but they killed the street estimates and is hovering around 100 now having recovered from the 30s earlier last year. I'm sure Eddie's still hurting (he was buying back tons of shares at 130) but it seems like Lampert is finally starting delivering results...

---------- “If the government is going to be giving away money, it’s our fiduciary responsibility to take it on behalf of our investors,”
 

Griffin shouldnt be making any performance fees this year since he dropped 50% last year...50% down followed by 60% up still leaves you 20% below your original high water mark.

On the performance numbers of the big funds above, I know that both Moore and Tudor were up about 20% this year...however neither of those funds lost any money last year. Brevan Howard also had a good year, probably +25%ish. Do not know the exact returns of Ren Tech and Paulson off the top of my head but they both did well.

 

Some numbers courtesy of DB. Like Bondarb pointed out, Griffin killed in this year, but that's only after he bailed big time last year... should still be below HWM... i think that's also the case for a couple of other guys, but Citadel was probably the most extreme out of all of them...Stevie Cohen is killing it as usual. Last time i calculated his returns, he had 35% NET CAGR even after paying 3/50.

SAC Capital International: December 2009: 2.18% YTD: 28.39%

Moore Global Investments: December 2009: 3.6% YTD: 20.6%

Paulson Advantage Ltd. : December 2009: 0.23% YTD: 13.75%

CFM Stratus Fund Ltd. 2x : December 2009: -3.16% YTD: 30.87%

Tewksbury Investment Fund Ltd.: December 2009: -1.30% YTD: 10.45%

Bridgewater Pure Alpha II: December 2009: -6.10% YTD: 2.00%

Winton Futures Fund : December 2009: -2.45% YTD: -4.62%

Tudor BVI Global Fund Ltd.: December 2009: -0.63% YTD: 16.51%

Balyasny Atlas Global Investments : December 2009: 1.81% YTD: 8.64%

D.E. Shaw Oculus Fund: December 2009: -1.8% YTD: 8.7%

D.E. Shaw Composite International: December 2009: 1.2% YTD: 21.1%

Citadel Kensington Global Strategies Fund Ltd.: December 2009: 2.35% YTD: 61.84%

Caxton Global Investment Fund Limited: December 2009: -0.64% YTD: 6.15%

Brevan Howard Fund Limited - Class A Shares: December 2009: 0.34% YTD: 17.89%

---------- “If the government is going to be giving away money, it’s our fiduciary responsibility to take it on behalf of our investors,”
 

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