Bill Ackman, head of the best performing large hedge fund firm, is poised to pull in at least $1 billion, according to rough CNBC calculations using his net worth, stake in $19 billion Pershing Square Capital Management and the fund's stellar 35 percent return net of fees through early December. Larry Robbins also pulled in about $600 million so far this year, according to a similar estimate. His Glenview Capital Management has surged again, gaining 12 percent in its main fund and 21 percent in a concentrated version through November, according to performance information obtained by CNBC. Glenview managed $9.9 billion as of Sept. 30. And Dan Loeb, whose main hedge fund is up 7.1 percent through November, appears set to make about $230 million this year. Third Point manages $16.5 billion. [NetNet]
Dan Loeb Did Pretty Okay For Himself Last Month
He's got a fallback career as a ghostwriter of letters that will cause the recipients to piss their pants in fear but for now it looks like this whole hedge fund manager thing is panning out pretty well.
Look At These Paupers: The 25 Highest Paid Hedge Fund Managers Of Last Year Made A Trifling $11.62 Billion
Scratch that. It was a triflin' $11.62 billion. They can't even scrape together the money for the 'g'.
Does Your Next Food Eating Challenge Involve Binge Drinking Herbalife's Formula 1 Nutrition Shake?
As many of you know, around these parts we are constantly debating the merits of various financial services employees' food eating challenges. Historically, we've detracted points for allowing the participants far too much time to complete the task at hand (opening bell to close, might as well just make it limitless), an insufficient volume of food (a box of Munchkins, considered by many to be a snack), and lack of originality (vending machine challenges have been done). On the flip side, we've applauded creativity (an investment banker and 500 Starburst enter a room and there's a webcam involved),* obscene amounts of food and enough sugar to cause hyperglycemia (244 oysters, a cupcake of death), and topicality (the delicacy that is the Sausage Pancake Bite: yes! Double Downs: double yes!). Which brings us to this: the Herbalife Food Eating Challenge. New York Observer reporter Patrick Clark noticed that while the Herbalife story has been covered by many an angle so far (the blood-sucking pyramid scheme angle, the grandma angle, the Dan Loeb/UWS hedge fund manager on UWS hedge fund manager angle), the most important angle of all had yet to be explored: the actual ingesting of this stuff angle.
Maybe Bill Ackman Should Use Labor Day Weekend to Think About Whether This Hedge Fund Thing Is Right For Him
Or at least just reevaluate his relationships with Herbalife and Valeant.
Blackstone Exec Thinks It Would Be An "Interesting" Time To Invest More Money With Hedge Fund Manager Who Recently Told Clients "I've failed"
The same guy also said he still believes in Bill Ackman, haters be damned.