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 backand 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.