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Applied Micro Circuits Corporation Message Board

  • courtneygb courtneygb Jul 18, 2006 2:17 AM Flag

    Hedge Fund Rip Off SEC Review this.

    Magazine annually ranks top-earning hedge fund managers. Earnings from a hedge fund are simply 100% of the capital gains on the manager's own equity stake in the fund plus 20% to 50% (depending on policy) of the gains on the other investors' capital.

    The 2004 top earner was Edward Lampert of ESL Investments Inc. who earned $1.02 billion during the year (PR Newswire link).

    The 2005 top earner was James Harris Simons with an earning of $1.5 billion according to Alpha magazine.[2] However, Traders Monthly reported that Simons only earned about $1 billion and that the top earner was instead T. Boone Pickens with an estimated earning of over $1.5 billion during the year.[3]

    The full top 10 list of hedge fund earners according to Traders Monthly includes:

    1. T.Boone Pickens - estimated 2005 earnings $1.5bn +
    2. Stevie Cohen, SAC Capital Advisers - $1bn

    What a firkin racket. Who's in bed with the hedge funds this time? And what's the purpose? That's what the SEC should be looking at. Please respond with something intelligent.
    Rate it:

 
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