Facing Pay Cuts, Hedge Fund Professionals May Be Forced To Rethink Second Homes

We pray it doesn't come to that.
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It's a very dark and very scary time.

Portfolio managers at hedge funds, facing an exodus of investors frustrated with high fees, are about to feel the pain from an estimated 34 percent reduction in their compensation. While fund managers may take the biggest pay cut in the industry, professionals with seven or more years of experience see their total compensation declining by 14 percent on average for 2016, recruiter Odyssey Search Partners said in a report this week following a September survey of 500 hedge fund professionals...Firms experiencing outflows this year are expected to pay 37 percent less in bonuses than those that had inflows, producing a payout closer to $288,000 compared with $394,000 for the better-performing funds, according to the report.

But there is a small glimmer of a bright spot in all of this misery: 20-somethings will be buying ALL of the drinks at Brother Jimmy's in Murray Hill.

Junior analysts are the exception when it comes to pay. Those with less than three years of experience expect their compensation to increase on average by 10 percent to $321,000.

Let that be of comfort to you all.

Hedge Fund Managers Expect 'Massive' 34% Pay Cut, Survey Says [Bloomberg]

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Woman Whose Ex-Hedge Fund Husband Demanded A Cut Of Her Shoes Just Rubbing It In His Face At This Point

Back in June, hedge fund manager Daniel Shak sued his ex-wife, Beth, over assets he claimed she'd hid during the couple's divorce. Said assets were Beth's shoes, which Daniel alleged were kept in a "secret room" and were worth approximately $1 million, 35 percent of which he wanted. It was a bit unclear as to why he was going after the footwear collection three years after the two split (though using the proceeds to relaunch his fund was a possibility) but the heart wants what the heart wants. Anyway, today brings just a couple follow-ups on the Shaks, both of which are slightly more exciting for Beth than Dan. 1. He won't see a single pair of Loubs. A civil suit brought by poker professional Dan Shak against his ex-wife, fellow poker pro Beth Shak, regarding her extensive shoe collection was dismissed in a court in New York after Mr. Shak advised his attorneys that he didn’t want to pursue the issue any further...the opening arguments apparently doomed the case in the eyes of the male Shak. Ms. Shak testified to Judge Daniele that her shoe fetish grew as a response to repeated denials of emotional attention from Mr. Shak. “I would not call these shoes a collection, I would call them a sickness at a particular point in my life,” Beth Shak testified to Judge Daniele as she recounted how Dan Shak would refuse her attempts at romantic encounters, according to the Post. “I tried to get him to go to therapy with me, but it just didn’t work,” the Post quotes Ms. Shak as testifying. “I was so unhappy with my marriage that all I did was shop. There was nothing to our relationship…he and I had nothing.” Further into her testimony to the court, Ms. Shak stated that not only did Mr. Shak know about the shoes but even signed off on all the bills as they came before him. After a break following Ms. Shak’s testimony, Mr. Shak apparently had a change of heart regarding the lawsuit. His attorneys informed Judge Daniele that their client wanted to withdraw the case, which Judge Daniele quickly granted. Looking square at Mr. Shak as she dismissed the case, Judge Daniele is quoted by the Post as stating, “Well, thanks for wasting everybody’s time.” 2. She's going into the shoe business! Now that that the suit is over, Shak, who has an image of a pair of Louboutons tattooed just below her waist, is concentrating one what's next — the launch her own line of shoes. Dan Shak Drops Lawsuit Against Beth Shak Following Opening Arguments [PND] Sexy Singles 2012: Beth Shak [Philly]