Tuesday, April 10, 2007

Damn it feels good to be a Hedgehog!

That's right the average pay package for a Top 100 PM was nearly 4.5x the salary of the top investment banker at $241 million dollars. Big ups to John Arnold for brining home the bacon (ok, more like the whole damn farm) with $1.5billion total comp.
John Arnold of Centaurus Energy in Houston, who took home an estimated $1.5 billion to $2 billion last year because his fund’s bets on the direction of natural-gas prices paid off, according to Trader Monthly’s latest ranking of top-paid hedge fund managers. Mr. Arnold, a newcomer to the list, appears to have been on the winning end of the ill-fated trades that triggered billions of dollars in losses at Amaranth Advisors over just a few days last fall, eventually forcing that hedge-fund firm to shut down.
The energy trades helped Mr. Arnold deliver a whopping 317 percent return before fees
Mr. Arnold, a 33-year-old former trader at Enron, charged his investors a 3 percent management fee and a 30 percent incentive fee.
the average pay among the 100 best-paid fund managers was $241 million.
For a point of comparison, Goldman Sachs’s chief executive, Lloyd Blankfein, the highest-paid boss on Wall Street, got a pay package valued at $54.3 million last year.

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