payday

  • 26 Feb 2013 at 11:51 AM

Steve Cohen Did Pretty Well For Himself Last Year

The end of 2012 might’ve been a tough one for the SAC Capital founder, what with the matter of a former employee being accused of orchestrating “the most lucrative insider trading scheme ever,” being referenced in the complaint as Portfolio Manager A, and ultimately being forced to show the softer side of Steve but the Big Guy still managed to take home $1.3 billion, so he’s got that going for him. Other people who made a respectable amount of money include highest earning hedge fund manager David Tepper, with $2.2 billion, Carl Icahn at $1.9 billion, and retired person James Simons, who didn’t have to lift a finger for his $1.9 billion. [Forbes]

The Federal Reserve stuck it to Warren Buffett today when it gave Goldman Sachs the greenlight to buy back the $5 billion of preferred stock Berkshire Hathaway bought when things got tense in 2008. As Goldman and Wall Street were in a bit of a bind at the time, Buffett was able to demand a set-up that made him more than $15 a second, or 12 pigs in a blanket from Omaha Steaks. Goldman was and is extremely appreciative of the help but now that things have calmed down and the firm is back to making it rain ka-ching on each other’s faces and the terms of the investment (special dividend payments of 10% a year on the bank’s preferred stock, plus warrants to buy shares of Goldman at $115/share) are, how to put this in a way WB will understand, like having the twin Geico cavemen play tug of war with your testicles– nice/somewhat intriguing under extraordinary circumstances/unusual dry-spells but fairly uncomfortable and not a place you want to be after the first or second yank, Lloyd and Co are happy to put the experience behind them. Read more »

  • 17 Feb 2011 at 5:44 PM

Jamie Dimon Got Himself Paid

Restricted stock valued at $12 million and 367,377 stock appreciation rights valued at $5 million. No word yet on what he’s looking at in cash, but the first pipsqueak to even entertain the thought of asking whether or not he deserves it should think twice. Just walk away. [WSJ, FINS]

Absolute Return has published its annual list of the top hedge fund earners of the year and while you might’ve thought differently at the time, it turns out keeping a pair of brass testicles on your desk and rubbing them at various intervals throughout the day for good luck isn’t so silly or homoerotic afterall. (Kidding, of course it still is, but doing so might score you a $4 billion take-home so, perhaps its worth it.) Other takeaways: Paul Tudor Jones is gonna make it hailstorm chicken and someone just stuck an extra pin in the voo-doo doll shaped like her ex-husband.

10. Phil Falcone, Harbinger Capital, $825 million

9. John Arnold, Centaurus Advisors, $900 million

8. Ken Griffin, Citadel, $900 million

7. Eddie Lampert, ESL Investments, $1.3 billion

6. Carl Icahn, Icahn Capital, $1.3 billion

5. Steve Cohen, SAC Capital, $1.4 billion

4. John Paulson, Paulson&Co, $2.3 billion

3. James Simons, Renaissance Technologies, $2.5 billion

2. George Soros, Soros Fund Management, $3.3 billion

1. David Tepper, Appalossa Management $4 billion

Related: 2008’s Highest Earning Hedge Fund Managers
2008’s Top Losers (Lampert, Please Report To Clean Up In Aisle 8, Clean Up In Aisle 8 Please)