Alpha magazine officially followed up yesterday‘s list of 2008′s top earning hedge fund mangers this morning with its list of 2008′s top losers. Clocking in at number one, we are sad to say, is our favorite midwestern fund boss, Ken Griffin, who lost $2 billion last year, as opposed to making $1.5 billion in 2007. Eddie Lampert won the dubious honor of making the list two years in a row, having lost $1.1 billion in 2007 and $1 billion in 2008. Rounding out the top three was the industry’s resident Zamboni driver, who personally misplaced $900 million after taking in $750 million the last time around. Tontine’s Jeffrey Gendell, who has not previously qualified for the mag’s top earnings list, having only made $190 million last year, took a $625 million hit in ’08 but please don’t worry about JG, ’cause he’s got a plan to make it all back and then some. And, to reiterate, as one of the men above noted to his troops yesterday, “I know this looks bad, but don’t worry about me compadres. You should see our clients.”
The mag also revealed the incomes of the bottom half of the Top 25 today.
incorrect. ken’s money was primarily in the stat arb fund, which had a great year.
ken@1- will you be seeking a correction from Alpha?
wait, i thought eddie lambert was the next warren buffett?
http://www.businessweek.com/magazine/content/04_47/b3909001_mz001.htm
“The Next Warren Buffett?
Financier Eddie Lampert turned once-bankrupt Kmart into a $3 billion cash cow. Will he build it into a new Berkshire Hathaway?
Security is tight at Eddie Lampert’s office. That’s no surprise: Last year he was kidnapped at gunpoint while leaving work and held for ransom for two days before talking his way free. In fact, there is no sign on the low-rise building in Greenwich, Conn., that his $9 billion private investment fund, ESL Investments Inc., is even there at all. There’s also no sign on ESL’s door upstairs — and certainly no indication that the man sitting there might be the next Warren E. Buffett. “
@2 not sure if you are trolling or not, but if not, you are completely wrong; KG said himself to the congressional committee on national TV that he had most of his money in Kensington and Wellington, both down substantially
Im sure there is all sorts of pacicking going on at the Chicago HQ this morning. Give me a break, the investors get screwed, thats about all.
@4- i think you meant to address @1.
@5- what’s your point? did this post imply that it was sending people into a panic? no.
I heart Bess.
they made decent money on stat arb strategy but got killed by their convert arb strategy.
@1 is dead wrong, @4 is correct.
it’s investor, not inWestor
What’s the over/under on when Alpha Magazine goes the way of Trader Monthly?
What’s Tim Sykes’ ranking?
@12 The number was so low it screwed with the CSS coding so they left him off. Sorry Timmay!
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