Are Expert (Jew) Networks About To Be Exposed As The Ringleader In The Biggest Insider Trading Bust

[CrackSmokeRepublican]

Interesting question over at ZeroHedge.com

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Are Expert (Jew) Networks About To Be Exposed As The Ringleader In The Biggest Insider Trading Bust In History?

Tyler Durden's picture

Submitted by Tyler Durden on 11/20/2010 11:04 -0500

    * Andrew Cuomo
    * Capital Markets
    * Citadel
    * Deutsche Bank
    * Expert Networks
    * FBI
    * Goldman Sachs
    * Insider Trading
    * Jana Partners
    * Janus Capital
    * Prudential
    * SAC
    * Securities and Exchange Commission
    * Wall Street Journal



Over a year ago, Zero Hedge published an expose in three parts (two of them in the form of direct letters to Andrew Cuomo) discussing the possibility that so-called "expert networks" are nothing less than legalized insider trading rings for the uber-wealthy, operating largely unsupervised, and leaking selective information to preferred clients. For those who may be new to this topic, we suggest catching up on Part 1, Part 2 and Part 3. Subsequently, we also suggested that expert networks would be implicated in the bust of Galleon Partners, the Goldman "Huddle", the collapse of FrontPoint Partners and, most recently, that expert networks may have been directly or indirectly involved in facilitating the record historical P&L of such hedge fund "titans" as SAC Capital. Today, via the Wall Street Journal, we realize that not only have the good folks at the SEC been diligently reading us for the past 13 months, but that we may have been right all along (once again). To wit: "Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, according to people familiar with the matter. The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say." Good bye expert networks (and many, many hedge funds) - we hardly knew you.

More from the WSJ:

The investigations, if they bear fruit, have the potential to expose a culture of pervasive insider trading in U.S. financial markets, including new ways non-public information is passed to traders through experts tied to specific industries or companies, federal authorities say.

    One focus of the criminal investigation is examining whether nonpublic information was passed along by independent analysts and consultants who work for companies that provide "expert network" services to hedge funds and mutual funds. These companies set up meetings and calls with current and former managers from hundreds of companies for traders seeking an investing edge.

    Among the expert networks whose consultants are being examined, the people say, is Primary Global Research LLC, a Mountain View, Calif., firm that connects experts with investors seeking information in the technology, health-care and other industries. "I have no comment on that," said Phani Kumar Saripella, Primary Global's chief operating officer. Primary's chief executive and chief operating officers previously worked at Intel Corp. (INTC), according to its website.

    In another aspect of the probes, prosecutors and regulators are examining whether Goldman Sachs Group Inc. (GS) bankers leaked information about transactions, including health-care mergers, in ways that benefited certain investors, the people say. Goldman declined to comment.

    Independent analysts and research boutiques also are being examined. John Kinnucan, a principal at Broadband Research LLC in Portland, Ore., sent an email on Oct. 26 to roughly 20 hedge-fund and mutual-fund clients telling of a visit by the Federal Bureau of Investigation.

    "Today two fresh faced eager beavers from the FBI showed up unannounced (obviously) on my doorstep thoroughly convinced that my clients have been trading on copious inside information," the email said. "(They obviously have been recording my cell phone conversations for quite some time, with what motivation I have no
    idea.) We obviously beg to differ, so have therefore declined the young gentleman's gracious offer to wear a wire and therefore ensnare you in their devious web."

    The email, which Mr. Kinnucan confirms writing, was addressed to traders at, among others: hedge-fund firms SAC Capital Advisors LP and Citadel Asset Management, and mutual-fund firms Janus Capital Group (JNS), Wellington Management Co. and MFS Investment Management. SAC, Wellington and MFS declined to comment; Janus and Citadel didn't immediately comment. It isn't known whether clients are under investigation for their business with Mr. Kinnucan.

Some more on expert networks:

Expert-network firms hire current or former company employees, as well as doctors and other specialists, to be consultants to funds making investment decisions. More than a third of institutional investment-management firms use expert networks, according to a late-2009 survey by Integrity Research Associates LLC in New York. The consultants typically earn several hundred dollars an hour for their services, which can include meetings or phone calls with traders to discuss developments in their company or industry. The expert-network companies say internal policies bar their consultants from disclosing confidential information.

 

And it is not only the SEC who reads us:

The investigations have been conducted by federal prosecutors in New York, the FBI and the Securities and Exchange Commission. Representatives of the Manhattan U.S. Attorney's office, the FBI and the SEC declined to comment.

Furthermore, our recent focus on SAC's involvement in assorted biotech companies may have been well warranted:

    Another aspect of the probe is an examination of whether traders at a number of hedge funds and trading firms, including First New York Securities LLC, improperly gained nonpublic information about pending health-care, technology and other merger deals, according to the people familiar with the matter.

    Some traders at First New York, a 250-person trading firm, profited by anticipating health-care and other mergers unveiled in 2009, people familiar with the firm say.

    A First New York spokesman said: "We are one of more than three dozen firms that have been asked by regulators to provide general information in a widespread inquiry; we have cooperated fully." He added: "We stand behind our traders and our systems and policies in place that ensure full regulatory compliance."

When all is said and done, First New York will only be the beginning.

As for representative transactions, here are some of the initial ones that have been leaked:

    Transactions being focused on include MedImmune Inc.'s takeover by AstraZeneca Plc (AZN, ANZ.LN) in 2007, the people say. MedImmune shares jumped 18% on Apr. 23, 2007, the day the deal was announced.

    A spokesman for AstraZeneca and its MedImmune unit declined to comment.

    Investigators are also examining the role of Goldman bankers in trading in shares of Advanced Medical Optics Inc., which was taken over by Abbott Laboratories (ABT) in 2009, according to the people familiar with the matter. Advanced Medical Optics's shares jumped 143% on Jan. 12, 2009, the day the deal was announced. Goldman advised MedImmune and Advanced Medical Optics on the deals.

    A spokesman for AstraZeneca and its MedImmune unit declined to comment.

It appears that if and when the hammer comes down (or specifically if the SEC finally has the guts to file formal charges) those who will have a lot of explaining to do are the who's who in the hedge fund world.

    In subpoenas, the SEC has sought information about communications-- related to Schering-Plough and other deals--with Ziff Brothers, Jana Partners LLC, TPG-Axon Capital Management, Prudential Financial Inc.'s (PRU) Jennison Associates asset-management unit, UBS AG's (UBS) UBS Financial Services Inc. unit, and Deutsche Bank AG (DB, DBK.XE), according to subpoenas and the people familiar with the matter.

    Representatives of Ziff Brothers, Jana, TPG-Axon, Jennison, UBS and Deutsche Bank declined to comment.

    Among hedge-fund managers whose trading in takeovers is a focus of the criminal probe is Todd Deutsch, a top Wall Street trader who left Galleon Group in 2008 to go out on his own, the people close to the situation say. A spokesman for Mr. Deutsch, who has specialized in health-care and technology stocks, declined to comment.

Could the hedge fund industry be about to experience its biggest insider trading bust? As much as we would like to believe so, the day when justice finally prevails over legal fees may still be far away. In the meantime, Zero Hedge is proud to have assisted in the exposure of this latest massive legal insider trading scam which favors the preferred and the wealthy over everyone else, precisely the kind of thing that makes investors hate the capital markets...

http://www.zerohedge.com/article/are-ex ... st-history

[Panoptimist]

Let's get some Crypto heads on the chopping blocks.

[CrackSmokeRepublican]

Here's an old list of HF B.S. artists   , but I'd multiply most of their Net Wealth by at 10x since the 2008 crisis. Put'em all in a room and put guns to their heads...  :think: ... and you'll find that most things can be actually "worked out"...that's basically what they do... if that doesn't work, then "pikes" are always an option...  --CSR :

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Stevie Cohen

City: Stamford, Connecticut
Firm: SAC Capital Advisors
Age: 48

He looks a little like George from Seinfeld and dresses as plainly as a suburban accountant, but make no mistake: Stevie Cohen is the master of the hedge-fund universe, and he made more money than anyone else on the Trader Monthly 100 for the second year running. Intensely secretive – Cohen was said to have been annoyed when the New York Times recently ran a front-page story highlighting his art collection, and unsurprisingly, he declined to be interviewed for this story – the man behind 13-year-old SAC Capital commands what might be the most powerful trading force on the planet.

Because the firm has been so successful, Cohen is comfortable taking half the profits from the few clients lucky enough to have access to his greatness – but in truth, he hardly has any clients left. Cohen, who overall produced returns somewhere in the mid-20 percent range last year, is mostly trading his and other SAC employees' money. "In what was a difficult year for the markets, Stevie is trading better than ever," says one industry insider.

What does Cohen do with all his cash? His 14-acre Greenwich, Connecticut, estate is referred to locally as "Chelsea Piers" for its array of sporting amusements. Then, of course, there's that art collection: enough Warhol and Pollock to earn him a seat on the board of the Museum of Modern Art.

And like many of the hedge-fund elite, Cohen donates a considerable amount to charity.
Estimated income: $600-$650 million
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James Simons

City: East Setauket, New York
Firm: Renaissance Technologies Corp.
Age: 67

Renaissance's Long Island retreat more resembles a college campus than a hedge-fund hub, and Simons, a former math professor with a Ph.D. from Berkeley who was once fired from a government defense job for protesting Vietnam, is not your typical tycoon. But industry insiders say that Renaissance's Medallion fund, with its black-box quantitative strategies, had another phenomenal year. Simons's cut of the profits: more than 35 percent.
Estimated income: $500-$550 million

Update: James Simons, a mathematician turned money manager who prefers hiring Ph.D.s over MBAs, inched out oil tycoon T. Boone Pickens Jr. as the world's best-paid hedge fund manager in 2005, collecting an estimated $1.5 billion, according to rankings released today by Institutional Investor's Alpha magazine. – Link
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Paul Tudor Jones II

City: Greenwich, Connecticut
Firm: Tudor Investment Corp.
Age: 50

Even when other hedge funds stumble, Jones stays near the front of the pack. In the nearly 20 years since he started his fund, the former New York Cotton Exchange floor trader has never had a down year. The past 12 months were no exception — insiders say Tudor Investment, bolstered by returns in the energy markets, kicked ass.

Well-liked on Wall Street and known for his philanthropy (he launched the Robin Hood Foundation in 1988), Jones is a Hemingway-esque sportsman. Among his extravagances: a game ranch in Zimbabwe. When not on safari, Jones, who loves the Florida Everglades, is big on conservation projects.
Estimated income: $500-$550 million
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Eddie Lampert

City: Greenwich, Connecticut
Firm: ESL Partners
Age: 42

IN 2003, Eddie Lampert was kidnapped. After 30 hours, he was able to talk his way out of the motel room in which he was being held hostage.

Last year, the former head of Goldman Sachs's risk-arbitrage desk was putting his dealmaking skills to different use: He made headlines orchestrating the merger of Sears with Kmart, which he had previously led out of its financial despair. Lampert, who started ESL in 1988 with funding from Richard Rainwater, epitomizes the new generation of hedge-fund managers who meld trading, private equity, leveraged buyout and traditional hedge-fund management.
Estimated income: $450-$500 million
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Bruce Kovner

City: New York
Firm: Caxton Associates
Age: 60

Still involved in day-to-day trading, Kovner and his $10 billion global macro operation did so well in 2004 that Caxton bumped up its fees from 2-and-20 to 3-and-30. The firm was particularly successful in energy trading — at least one of his senior energy traders retired early. Kovner, however, is going strong. A math professor turned Wall Street profiteer, Kovner is known for his neoconservative politics; the man who shuns the press is one of the financial muscles behind the New York Sun newspaper. His varied career also involved a stint driving a yellow cab and studying the harpsichord at Juilliard before making it big trading soybean futures.
Estimated income: $300-$350 million
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James Pallotta

City: Boston
Firm: Tudor Investment Corp.
Age: 46

Racking up an 18 percent gain in 2004, Pallotta's more than $6 billion Raptor Global Portfolio generated this hedge-fund pro a fat check in February. "He is the top-paid guy at the firm after Paul Tudor Jones," says one insider. Pallotta joined Jones in 1993 after a stint at Essex Investment Management, where he was director of research, when Jones was seeking to diversify the firm away from the futures and commodities markets.
Estimated income: $200-$250 million
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Stanley Druckenmiller

City: New York
Firm: Duquesne Capital Management
Age: 51

Reports on how Druckenmiller and his $6 billion Duquesne Capital hedge-fund operation performed in 2004 are mixed. One knowledgeable industry veteran tells us his returns were in the 25 percent range. The former chief investment officer for George Soros, Druckenmiller has shown a distinct willingness to take aggressive positions even when markets are not necessarily behaving according to conventional wisdom.
Estimated income: $150-$200 million
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Jeffrey Gendell

City: Greenwich, Connecticut
Firm: Tontine Partners
Age: 45

Making a 100 percent return on $1 billion-plus in assets is astonishing anytime, but in a year when even the superstars were thrilled to be around 40 percent, the secretive Gendell was shooting the moon at Tontine, thanks to a big energy push. Indeed, he has proved a consistent performer: In 2003, his overseas long/short fund boasted returns of 153 percent.
Estimated income: $150-$200 million
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Richard Perry

City: New York
Firm: Perry Capital
Age: 50

Founded in 1988 by the former Goldman trader, Perry Capital has some $11 billion under management. With offices in New York, London and Hong Kong, the firm is pushing into middle-market lending with its recent purchase of Capital Factors. Event-driven arbitrage and distressed debt remain Perry's strengths.
Estimated income: $150-$200 million
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John Arnold

City: Houston
Firm: Centaurus Energy
Age: 31

Arnold made a name for himself as the Enron trader. While he got his share of roasting in the press, the natural-gas trader didn't do anything criminal — he just made hundreds of millions of dollars in profits for the infamous firm. He started Centaurus in 2002. Energy traders say his first full year was phenomenal, and 2004 was even better. Centaurus is estimated to have produced as much as $800 million in profits.
Estimated income: $100 – $150 million
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Louis Bacon

City: New York
Firm: Moore Capital Management
Age: 48

Another hedge-fund manager who shuns publicity, Bacon had a strong 2004 — notching a 34 percent return — following on the heels of a phenomenal performance in 2003. Among other bets, the $7 billion global macro machine went long the S&P 500 toward the end of the year, catching (if not propelling) the late rally.
Estimated income: $100 – $150 million
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Richard Chilton

City: Stamford, Connecticut, and New York
Firm: Chilton Investment Company
Age: 46

With offices in New York and Stamford, Chilton runs four long/short strategies. His flagship U.S. portfolio has an annualized return of 19 percent, net of fees, since its 1992 inception. He's yet another hedge-fund heavy who sits on the board of Paul Tudor Jones's Robin Hood Foundation.
Estimated income: $100 – $150 million
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David Tepper

City: Chatham, New Jersey
Firm: Appaloosa Management
Age: 45

The former Goldman Sachs junk-bond trader who shot the lights out in 2003 and then gave back $1 billion to clients had another strong year in 2004. His Appaloosa fund had returns of around 40 percent last year, and once again he has given back money to his clients (another $700 million), bringing his assets closer to $2 billion — the level at which he would like to remain.
Estimated income: $100-$150 million
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Mark Kingdon

City: New York
Firm: Kingdon Capital Management Corp.
Age: 56

A third-degree black belt in tae kwan do, Kingdon oversees a $3 billion portfolio of stocks, bonds, currencies and options. His first job in the industry was in the pension-asset division of AT&T; he later joined a New York money manager. One of the industry's living legends, he has a lesser-known spiritual side.
Estimated income: $75 – $100 million
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Stephen Mandel

City: Greenwich, Connecticut
Firm: Lone Pine Capital
Age: 49

One of several Tiger Management alumni who have launched their own hedge funds, Mandel has garnered $6 billion in assets for his Lone Pine Capital. In a difficult market environment in 2004, Mandel's returns were above average. He was part of a group of long/short hedge-fund managers to open long-only funds and is currently searching for opportunities in Asia. He recently gave significant money to Bill Clinton's global AIDS-prevention initiative.
Estimated income: $75-$100 million
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Lief Rosenblatt

City: New York
Firm: Satellite Asset Management
Age: 51

Founded in 1999 by former Soros star Rosenblatt and two other partners, Satellite now has more than $5 billion in assets, and returns were roughly 25 percent in 2004, according to insiders.

Before joining Soros, the Rhodes scholar led the risk-arbitrage department at Plaza Securities in New York. He also has a law degree from Harvard. "Satellite is one of the top hedge funds in the world," says one Wall Street trader.
Estimated income: $75-$100 million
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Barry S. Rosenstein

City: San Francisco
Firm: Jana Partners
Age: 46

Viewed as sharp and down-to-earth, Rosenstein is part of a group of activist hedge-fund managers publicly browbeating corporate officers to change.

In 2004, his most notable coup was teaming up with Third Point's Dan Loeb and forcing the sale of software maker InterCept. Earlier this year, Rosenstein joined with the legendary Carl Icahn and went after Kerr-McGee. The fund has around $3 billion in assets and had 30 percent returns in 2004, before fees.
Estimated income: $75-$100 million
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David Shaw

City: New York
Firm: D.E. Shaw & Co.
Age: 53

D.E. Shaw has done so well in recent years that in late 2002, the firm hiked fees to 3-and-30 and investors didn't blink; such is the price of access to chairman Shaw and his braintrust. A former college professor, Shaw helped develop Morgan Stanley's automated trading system before launching his quant fund in 1988.
Estimated income: $75 – $100 million

Robert Soros

City: New York
Firm: Soros Fund Management
Age: 41

Last year, when George Soros handed over the reins to his sons, Robert was appointed to oversee the $8.3 billion Quantum Endowment Fund. Industry sources say this is no vanity role, and the younger Soros was in fact assuming positions in the markets for Quantum last year.
Estimated income: $75 – $100 million
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Kaveh Alamouti

City: New York
Firm: Moore Capital Management
Age: 51

Alamouti, previously the CEO of Optimum Asset Management, joined Moore's European operation a few years ago. The crack trader was put in charge of portfolio investing across a number of asset classes â€" and has since rocketed up the ranks at Moore.
Estimated income: $50 – $75 million
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Israel Englander

City: New York
Firm: Millennium Partners
Age: 56

It has been a rough couple of years for Englander and Millennium Partners. In 2003, the fund became a boldface name in the mutual-fund investigation after one of its former traders was accused of market timing. Still, the multi-strategy macro fund remains the envy of many traders. Industry insiders maintain that the man called "Izzy" is still actively involved in day-to-day portfolio management. His $3.5 billion fund ended the year up just over 8 percent.
Estimated income: $50–$75 million
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Alan Howard

City: London
Firm: Brevan Howard Asset Management
Age: 41

Howard is earning a reputation as one of the greatest traders ever. Market participants say the team that spun out of CSFB in 2002 under Howard is amazing, "but Alan is by far the best trader among them." He certainly defies the axiom that bank prop traders find it difficult when they go it alone. As if growing to become one of the larger hedge funds on earth – he had amassed nearly $8 billion in assets as of the end of 2004 – wasn't sweet enough for him, City sources say Howard was also one of the few traders who was on the winning end of the rate bet that almost upended Vega last summer.
Estimated income: $50 – $75 million
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Dan Loeb

City: New York
Firm: Third Point Management Co.
Age: 43

Say what you will – Loeb certainly knows how to make money. As the founder and president of Third Point (the fund is named after Malibu's Third Point at Surf Rider Beach), Loeb has built a reputation as something of a loudmouth with the e-mail zingers and pointed shareholder letters he sends to corporate executives with whom he's unhappy. Loeb's most recent antics were e-mailed among traders far and wide – a particularly spicy exchange between Loeb and a European potential hire that found its way into the press.

But behind the noise is a smart investor who steered his $3 billion hedge funds to returns north of 30 percent last year.
Estimated income: $50 – $75 million
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Raj Rajaratnam

City: New York
Firm: The Galleon Group
Age: 47

Founder of the $5 billion Galleon, one of the top-performing equity funds of the '90s, Rajaratnam remains actively involved in investment strategy and trading. He also continues to be passionate about his native Sri Lanka. After the devastating December 26 tsunami, Rajaratnam, who was in Sri Lanka at the time, established a charity fund to help build housing for survivors of the disaster.
Estimated income: $50 – $75 million
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Ken Tropin

City: Stamford, Connecticut
Firm: Graham Capital Management
Age: 51

Tropin sizzled in 2004 (it didn't hurt that he built an energy desk at the end of 2003). He founded the $4 billion commodities operation in 1994 after spending some time as CEO of John W. Henry & Co.
Estimated income: $50 – $75 million
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William von Mueffling

City: New York and London
Firm: Cantillon Capital Management
Age: 37

Von Mueffling stung Lazard Asset Management when he left in 2003 to form his own fund. Since then, Cantillon has picked up more than $6 billion in assets and posted double-digit returns. Even with last year's low volatility for long/short equity, Von Mueffling fared impressively.
Estimated income: $50 – $75 million
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Dwight Anderson

City: New York
Firm: Ospraie Management
Age: 45

Having worked with Julian Robertson and Paul Tudor Jones, Anderson knows a thing or two about running a hedge fund and is held in high esteem on the Street. Lehman Brothers recently bought a 20 percent stake in his $2 billion fund, and if last year's results are anything to go by, they got a good deal. Anderson, whose background is in commodities trading, benefited from a great year in the oil markets. His friends say he has a penchant for adventurous vacations.
Estimated income: $40 – $50 million
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Peter Briger

City: New York
Firm: Fortress Investment Group
Age: 41

The former co-head of Goldman's Asian distressed-debt business, Briger helps steward the Drawbridge Special Opportunities business under the $15 billion Fortress umbrella. His partner is Michael Novogratz (see page 77).
Estimated income: $40 – $50 million
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Philip Falcone

City: New York
Firm: Harbert Management Corp.
Age: 42

It was another good year for Falcone. The junk-bond trader and former Harvard hockey player started his fund four years ago and has grown assets to more than $3 billion. Personable and polite in private, Falcone is a pit bull in the distressed markets. While many of his rivals were struggling to find paper worth chasing in 2004, Falcone showed that he's second to none in this illiquid asset class.
Estimated income: $40 – $50 million
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David Gorton

City: London
Firm: London Diversified Fund Management
Age: 41

London Diversified had an excellent year, according to sources in the City, so CIO Gorton cleaned up. Launched in 2002, the fund is staffed by a slew of former J.P. Morgan professionals. As a standout prop trader at J.P. Morgan, Gorton and his crack team were reputed to bring in more than $1 billion a year in profits for the venerated Wall Street bank.
Estimated income: $40 – $50 million
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Wayne Holman

City: Stamford, Connecticut
Firm: SAC Capital
Age: Mid-30s

Holman is not a high-profile guy; indeed, outside the hallowed halls of SAC Capital, very little is known about him. But insiders assure us that, as a health-care trader for SAC's Sigma Capital, Holman earns. "He makes a bloody fortune," says one source.
Estimated income: $40 – $50 million
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Roy Lennox

City: New York
Firm: Caxton Associates
Age: 47

Hired by Bruce Kovner (see page 72) at Caxton straight out of business school, Lennox started as a commodities trader, eventually becoming what one Wall Street source terms "Bruce's right-hand man."
Estimated income: $40 – $50 million
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Michael Novogratz

City: New York
Firm: Fortress Investment Group
Age: 40

Once a U.S. Army helicopter pilot, Novogratz is used to high altitudes, but he and partner Peter Briger are entering rarefied air. Novogratz, a Fortress principal, is responsible for the Drawbridge Global Macro business.
Estimated income: $40 – $50 million
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Peter Abramenko

City: Stamford, Connecticut
Firm: SAC Capital
Age: 43

Abramenko is spearheading SAC's fixed-income push and helps the Sigma Capital Management fund. He's somewhat shadowy and aloof, but one hell of a trader. In 2003, when he was still head prop trader at UBS Principal Finance, he earned a bonus of $17 million. Not long after pocketing that, he left and later joined SAC.
Estimated income: $30 – $40 million
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Lawrence Hilibrand

City: Greenwich, Connecticut
Firm: JWM Partners
Age: 46

A decade ago, this egghead arb trader's name was synonymous with Wall Street hubris when he became the top-paid trader at Salomon Brothers. Subsequently, he was part of a group of traders who had come to epitomize hedge-fund hubris: The fund he helped steer, Long-Term Capital Management, almost caused an apocalypse on the Street.

Since the LTCM debacle in 1998, Hilibrand has flown under the radar. But he was among the group, led yet again by John Meriwether, that has since started a new fund, JWM Partners (Hilibrand has a 10 percent-plus stake). JWM has quietly been raising money — assets under management fall well north of $1 billion — and continuing to trade. Returns have been around 15 percent.
Estimated income: $30 – $40 million
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David Matlin

City: New York
Firm: MatlinPatterson Global Advisers
Age: 44

Before Jack DiMaio and his gang were running high-yield at CSFB, Matlin and his crew put the bank's high-yield group on the map. "And these guys were better," says one distressed trader. Three years ago, Matlin left to form MatlinPatterson with former CSFB bond trader Mark Patterson. The firm now has around $3 billion. MatlinPatterson closed its second fund last October after raising $1.7 billion. Matlin became the talk of the town in 2003 for his involvement in leading WorldCom, now MCI, out of bankruptcy.
Estimated income: $30 – $40 million
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Ravinder Mehra

City: New York
Firm: Vega Asset Management
Age: 46

Vega struggled through the summer of 2004, betting wrong on rates and taking a hit in two of its best-known funds. After experiencing draw-downs, Vega had stabilized by the end of the year. If anyone knows how to make money, though, it's Mehra, who in 1993 produced a $1 billion profit for his then-employer, Banco Santander.
Estimated income: $30 – $40 million
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Ed Mule

City: Greenwich, Connecticut
Firm: Silver Point Capital
Age: 42

A distressed-debt honcho from Goldman Sachs, Mule formed Silver Point in early 2002. Recently, the multibillion-dollar fund has been getting into middle-market lending; Silver Point helped provide bailout financing to Krispy Kreme. While at Goldman, Mule ran a large Asian business while also trading distressed in Europe and North and South America.
Estimated income: $30 – $40 million
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Allan Teh

City: New York
Firm: Kamating Street Capital
Age: 39

Teh left Citigroup, where he had been running an internal hedge fund, in January 2004. A stringent non-compete agreement prevented the credit trader from taking his team of math brains with him. So instead, Teh, who hails from Malaysia, hired math students out of top graduate programs. Kamating has already raised $600 million.
Estimated income: $30 – $40 million
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Sushil Wadhwani

City: London
Firm: Wadhwani Capital
Age: 45

A familiar face on the London scene, Wadhwani, a former advisor to the Bank of England, launched Wadhwani Capital in 2002. The global macro manager now has an estimated $2 billion in assets under management. Insiders say that while returns have not yet been outstanding, "it is only really Wadhwani there," so he's garnering most of the fees himself. He has also spent time at both Tudor Investment and Goldman Sachs.
Estimated income: $30 – $40 million
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David Windreich

City: New York
Firm: Och-Ziff Capital Management
Age: 47

The top equity dog at Och-Ziff, Windreich is hardly a household name, but hedge-fund sources say he takes center stage at the powerhouse built by Dan Och, who is no longer actively trading.
Estimated income: $30 – $40 million
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Jeff Aronson

City: New York
Firm: Angelo, Gordon & Co.
Age: 46

A distressed-debt trader for the New York-based fund manager, Aronson left this past spring. A source close to Angelo, Gordon expects that he will set up his own fund once his non-compete is up. "He makes it onto the list without breaking a sweat," one executive says of Aronson's 2004 compensation.
Estimated income: $25 – $30 million
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Todd Deutsch

City: New York
Firm: The Galleon Group
Age: 32

"One of the three best traders in the industry," says prop-trading king Steve Schonfeld of Deutsch, who joined Galleon in 2001. Before that, Deutsch, a Goldman alum, worked for a few years at JLF Asset Management. He's known for his tech and health-care stock-trading prowess.
Estimated income: $25 – $30 million
———————————————————————–
Mark Fishman

City: Stamford, Connecticut
Firm: SAC Capital
Age: Mid-40s

As a director of fixed income at SAC, Fishman oversaw the firm's Genesis Fund. He defected this March to launch Sailfish Capital, a credit-focused fund he runs with UBS's Sal Naro and the Genesis team. Fishman's bond portfolio at SAC was reported to be one of the most actively traded high-grade credit-trading accounts in the game.
Estimated income: $25 – $30 million
———————————————————————–
Mark Hillary

City: London
Firm: Tudor Investment Corp.
Age: 40s

"Hillary has made a lot of money for Tudor Investment over the years," says one firm insider. The London-based macro trader has been well-compensated for his hard work, particularly because he performed well in a difficult year volatility-wise.
Estimated income: $25 – $30 million
———————————————————————–
Jim Pulaski

City: Greenwich, Connecticut
Firm: Tudor Investment Corp.
Age: 31

An energy and natural-gas futures trader for Tudor Investment, Pulaski more than earned his bonus check in 2004. Tudor sources say he's one of the best traders at the firm.
Estimated income: $25 – $30 million
———————————————————————–
Chris Rokos

City: London
Firm: Brevan Howard
Age: 34

Rokos is the youngest of the traders who left CSFB along with Alan Howard (see page 75) to form Brevan Howard. At an age when many are just scraping together their first mortgage, Rokos could retire anywhere in the world. In 2001, he supposedly made more than $100 million in profits for the bank.
Estimated income: $25 – $30 million
———————————————————————–
Hugh Sloane

City: London
Firm: Sloane Robinson Investment Management
Age: 49

A veteran of the Asian securities industry, Sloane, cofounder (with George Robinson) of Sloane Robinson, is the trader of the duo. The firm's four directors shared a pay bonanza of $100 million for 2004, according to records filed with London's Companies House. Sloane and Robinson were early figures on the City's hedge-fund scene, launching their fund in 1993. It has since grown to nearly $5 billion.
Estimated income: $25 – $30 million
———————————————————————–
John Sommi

City: Greenwich, Connecticut
Firm: Lone Pine Capital
Age: 47

Another Tiger cub, Sommi is Stephen Mandel's head trader at Lone Pine. Those who know Sommi call him a fiend behind the screen and a major factor in Lone Pine's recent success. But unlike many other former Tiger stars, Sommi has managed to avoid the spotlight.
Estimated income: $25 – $30 million
———————————————————————–
Robert Standing

City: London
Firm: London Diversified Fund Management
Age: 45

The most public of the London Diversified team, Standing is "just a regular guy," according to those who know him. He's also an extremely successful guy, reaping rewards from another standout year. City sources put his compensation at around $25 million. Sources close to Standing himself, however, say it's closer to $20 million.
Estimated income: $25 – $30 million

[CrackSmokeRepublican]

From 2008:


2008 Top Hedge Fund Moneymakers
March 26, 2009 20093 11:41 am | In Trading | Comments Off

George Soros again! This guy's a master in downtimes!!!

1 – James Simons, Renaissance Technologies Corp, $2.5 billion
2 – John Paulson, Paulson & Co, $2 billion
3 – John Arnold, Centaurus Energy, $1.5 billion
4 – George Soros, Soros Fund Management, $1.1 billion
5 – Raymond Dalio, Bridgewater Associates, $780 million
6 – Bruce Kovner, Caxton Associates, $640 million
7 – David Shaw, D.E. Shaw & Co, $275 million
8 – Stanley Druckenmiller, Duquesne Capital Management, $260 million
9 – (tie) David Harding, Winton Capital Management, $250 million
9 – (tie) Alan Howard, Brevan Howard Asset Management, $250 million
9 – (tie) John Taylor Jr, FX Concepts, $250 million
12 – James Chanos, Kynikos Associates
13 – Michael Platt, BlueCrest Capital Management
14 – Roy Niederhoffer, R.G. Niederhoffer Capital Management
15 – John Horseman, Horseman Capital Management
16 – Paul Touradji, Touradji Capital Management
17 – Henry Laufer, Renaissance Technologies Corp.
18 – Kenneth Tropin, Graham Capital Management
19 – (tie) Pierre Andurand, Dennis Crema, BlueGold Capital Management
19 – (tie) Christopher Rokos, Brevan Howard Asset Management
22 – (tie) Christian Baha, Superfund
22 – (tie) Christian Levett, Clive Capital
24 – William Dunn, Dunn Capital Management
25 – Andrew Hoine, Paulson & Co.

http://boringest.blogasian.com/2009/03/ ... neymakers/


The site also had this cool photo: