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For the most part, 2013 was not kind to Steve Cohen. The Feds put his balls in a jar and put that jar on Preet Bharara’s desk. One of his ex-employees went to trial for (and was later found guilty of) masterminding the “most lucrative insider trading scheme ever.” Other former traders helped bring the number of SAC alums indicted on securities fraud charges to nine. His genius idea to give out free hot dogs on the front lawn of SAC HQ failed to prevent a number of departures. He lost his biggest fan. For a lot of hedge fund managers, all of this would add up to moping around the office and turning in less than stellar work. For Steve Cohen, it meant turning up the Styx and getting down to business.
According to Institutional Investor’s Alpha, Cohen was the second highest paid hedge fund manager in 2013, moving up from third highest in 2012. Other things to note:
- David Tepper’s lucky charms just won’t quit
- The fourth highest paid guy, Jim Simons, is retired
- John Paulson, who didn’t crack the Top 10 in 2012, does not need your pity
And while Alpha points out that this will be Cohen’s last year on this list, now that Point72 Asset Management née SAC Capital is a family office, don’t you worry about the Big Guy. Someone will surely have a “Highest Earning Family Office Managers Of The Year” list up and running come 2015.