TOP 100
They're called hedgehogs and fat cats, and sometimes much worse than that. We present them simply as “traders,” though in truth most are technically considered portfolio managers. There’s one word, however, that definitively describes each of the securities-industry standouts who make up this year’s Trader Monthly 100: flush.
You needed at least $75 million in 2007 *income to make the cut. Five of the forces of nature on the pages that follow cleared 10 figures. One, John Paulson, made, at minimum, a staggering $3 billion, more income banked in one year than any trader — maybe any human being — ever. Paulson wasn’t alone. Smart subprime and related bets produced windfalls for a slew of other top traders, including Phil Falcone, Richard Perry and John Burbank. Our usual elephants, Jim Simons and Stevie Cohen, did their customary stomping, while a ferocious pack of Tiger Cubs also roared into the coliseum.
Technology was back as an investment theme — a good one if you were long the right names. Financials served you well — as long as you had shorted them. This year marks the fifth annual top-*earning-traders list since Trader Monthly debuted with its inaugural rundown (based on 2003 income) in the autumn of 2004 — and oh, how the years and AUMs have, respectively, flown and grown.
Along the way, we’ve published a few estimates that wound up being too high; others, more often, came in too low. But we continue to strive for the most reasonably accurate compensation ranges that vigorous reporting can produce. But enough about our hard work; it’s time for mambo number five. The trades have been cast, the calculations made. On with our countdown. And for the third straight year, we’ve got a new top dog.
TOP 10
John Paulson, New York, Paulson & Co. Estimated 2007 Income: $3 billion+
Phil Falcone, New York, Harbinger Capital Partners Estimated Income: $1.5–$2 billion
Jim Simons, New York, Renaissance Technologies Corp. Estimated Income: $1.5–$2 billion
Steve Cohen, Connecticut, SAC Capital Advisors Estimated Income: $1–$1.5 billion
Ken Griffin, Chicago, Citadel Investment Group Estimated Income: $1–$1.5 billion
Chris Hohn, London, The Children’s Investment Fund Estimated Income: $800–$900 million
Noam Gottesman, London, GLG Partners Estimated Income: $700–$800 million
Alan Howard, London, Brevan Howard Asset Management Estimated Income: $700–$800 million
Pierre Lagrange, London, GLG Partners Estimated Income: $700–$800 million
Paul Tudor Jones, Connecticut, Tudor Investment Corp. Estimated Income: $600–$700 million
11-20
Greg Coffey, London, GLG Partners, Estimated Income: $500–$600 million
Ray Dalio, Connecticut, Bridgewater Associates, Estimated Income: $500–$600 million
Stanley Druckenmiller, New York, Duquesne Capital, Estimated Income: $500–$600 million
John Arnold, Houston, Centaurus Energy, Estimated Income: $400–$500 million
Louis Bacon, London, Moore Capital Management, Estimated Income: $400–$500 million
Israel Englander, New York, Millennium Management, Estimated Income: $400–$500 million
Jeffrey Gendell, Connecticut, Tontine Associates, Estimated Income: $400–$500 million
Dinakar Singh, New York, TPG-Axon Capital, Estimated Income: $400–$500 million
Chase Coleman, New York, Tiger Global Management, Estimated Income: $350–$400 million
Andreas Halvorsen, Connecticut, Viking Global Investors, Estimated Income: $350–$400 million
21-30
Bill Ackman, New York, Pershing Square Capital Management, Estimated Income: $300–$350 million
Jim Chanos, New York, Kynikos Associates, Estimated Income: $300–$350 million
James Dinan, New York, York Capital Management, Estimated Income: $300–$350 million
Stephen Feinberg, New York, Cerberus Capital, Estimated Income: $300–$350 million
John Griffin, Dallas, Blue Ridge Capital, Estimated Income: $300–$350 million
Dan Och, Dallas, Och-Ziff Capital Management, Estimated Income: $300–$350 million
Richard Perry, New York, Perry Capital, Estimated Income: $300–$350 million
T. Boone Pickens, Dallas, BP Capital, Estimated Income: $300–$350 million
Larry Robbins, New York, Glenview Capital Management, Estimated Income: $300–$350 million
Tim Barakett, Dallas, Atticus Capital, Estimated Income: $250–$300 million
31-40
John Burbank, San Francisco, Passport Capital, Estimated Income: $250–$300 million
Stephen Mandel, Connecticut, Lone Pine Capital, Estimated Income: $250–$300 million
Nathaniel Rothschild, New York, Atticus Capital, Estimated Income: $250–$300 million
Chris Shumway, Connecticut, Shumway Capital Partners, Estimated Income: $250–$300 million
David Slager, New York, Atticus Capital, Estimated Income: $250–$300 million
William Von Muefling, New York, Cantillon Capital Management, Estimated Income: $250–$300 million
John Zwaanstra, New York, Penta Investment Advisers, Estimated Income: $250–$300 million
Marc Lasry, New York, Avenue Capital Group, Estimated Income: $200–$250 million
Dan Loeb, New York, Third Point Management, Estimated Income: $200–$250 million
Eric Mindich, New York, Eton Park Capital Management, Estimated Income: $200–$250 million
41-50
Steven Roth, London, GLG Partners, Estimated Income: $200–$250 million
Peter Davies, London, Landsdowne Partners, Estimated Income: $150–$200 million
Dan Gold, New York, QVT Financial, Estimated Income: $150–$200 million
Steven Heinz, London, Landsdowne Partners, Estimated Income: $150–$200 million
Bruce Kovner, New York, Caxton Associates, Estimated Income: $150–$200 million
Willem Kooyker, New Jersey, Blenheim Capital, Estimated Income: $150–$200 million
Alec Litowitz, Illinois, Magnetar Capital Management, Estimated Income: $150–$200 million
Joseph Oughourlian, New York, Amber Capital, Estimated Income: $150–$200 million
Paolo Pellegrini, New York, Paulson & Co., Estimated Income: $150–$200 million
Raj Rajaratnam,(SRI LANKAN BORN)New York, The Galleon Group, Estimated Income: $150–$200 million
Galleon’s assets could fill an ocean liner: $7.5 billion, up from $5 billion a year ago. Firm-wide returns were 17.1 percent. Huge success came in the now $1.5 billion Galleon International Fund, which returned 31 percent on equity bets in India and Malaysia. Three other funds — the Buccaneer Fund, the Technology Fund and the Communications Fund — were all up 20 percent– plus. On the downside, it wasn’t the greatest year for Todd Deutsch’s Captain’s Fund, which was down 25.5 percent. In all, the captain of this crew, Rajaratnam, who is beloved in his native Sri Lanka, secured some heavy ballast.
51-60
Stuart Roden, London, Landsdowne Partners, Estimated 2007 Income: $150–$200 million
Paul Ruddock, London, Landsdowne Partners, Estimated Income: $150–$200 million
Martin Taylor, London, Thames River Capital, Estimated Income: $150–$200 million
Paul Touradji, New York, Touradji Capital Management, Estimated Income: $150–$200 million
Brett Barakett, New York, Tremblant Capital Group, Estimated Income: $100–$150 million
O. Francis Biondi, New York, King Street Capital Management, Estimated Income: $100–$150 million
Keith Campbell, Maryland, Campbell & Co., Estimated Income: $100–$150 million
Richard Chilton, Connecticut, Chilton Investment, Estimated Income: $100–$150 million
Leon Cooperman, New York, Omega Advisors, Estimated Income: $100–$150 million
William de Winton, London, Landsdowne Partners, Estimated Income: $100–$150 million
61-70
David Harding, London, Winton Capital Management, Estimated Income: $100–$150 million
Brian Higgins, New York, King Street Capital Management, Estimated Income: $100–$150 million
Michael Hintze, London, CQS Management, Estimated Income: $100–$150 million
Martin Hughes, London, Tosca Fund, Estimated Income: $100–$150 million
Mark Kingdon, New York, Kingdon Capital Management, Estimated Income: $100–$150 million
Michael Platt, London, BlueCrest Capital Management, Estimated Income: $100–$150 million
William Reeves, London, BlueCrest Capital Management, Estimated Income: $100–$150 million
Brian Stark, Milwaukee, Stark Investments, Estimated Income: $100–$150 million
Jeffrey Tannenbaum, New York, Fir Tree Partners, Estimated Income: $100–$150 million
David Tepper, New Jersey, Appaloosa Management, Estimated Income: $100–$150 million
71-80
Matthew Tewksbury, Bermuda, Tewksbury Capital Management, Estimated Income: $100–$150 million
Jeff Altman, New York, Owl Creek Asset Management, Estimated Income: $75–$100 million
William Arah, London, Marathon Asset Management, Estimated Income: $75–$100 million
Peter Briger, New York, Fortress Investment Group, Estimated Income: $75–$100 million
William Browder, London, Hermitage Capital Management, Estimated Income: $75–$100 million
Richard Chenevix-Trench, London, Sloane Robinson Investment Management, Estimated Income: $75–$100 million
David Einhorn, New York, Greenlight Capital, Estimated Income: $75–$100 million
David Ganek, Connecticut, Level Global Investors, Estimated Income: $75–$100 million
Alex Habib, London, Spinnaker Capital Group, Estimated Income: $75–$100 million
Doug Hirsh, New York, Winton Capital Management, Estimated Income: $75–$100 million
81-90
John Horseman, London, Horseman Capital, Estimated Income: $75–$100 million
Jeremy Hosking, London, Marathon Asset Management, Estimated Income: $75–$100 million
Philippe Jabre, Geneva, Jabre Capital Partners, Estimated Income: $75–$100 million
Marcos Lederman, London, Spinnaker Capital, Estimated Income: $75–$100 million
Adam Levinson, New York, Fortress Investment Group, Estimated Income: $75–$100 million
Claude Marion, London, Spinnaker Capital, Estimated Income: $75–$100 million
John Meriwether, Connecticut, JWM Partners, Estimated Income: $75–$100 million
Michael Novogratz, New York, Fortress Investment Group, Estimated Income: $75–$100 million
Crispin Odey, London, Odey Asset Management, Estimated Income: $75–$100 million
Neil Ostrer, London, Marathon Asset Management, Estimated Income: $75–$100 million
91-100
George Robinson, London, Sloane Robinson Investment Management, Estimated Income: $75–$100 million
Barry Rosenstein, New York, JANA Partners, Estimated Income: $75–$100 million
Chris Rokos, London, Brevan Howard Asset Management, Estimated Income: $75–$100 million
Gary Rosenbach, New York, The Galleon Group, Estimated Income: $75–$100 million
Art Samberg, Connecticut, Pequot Capital Management, Estimated Income: $75–$100 million
Thomas Sandell, New York, Sandell Asset Management, Estimated Income: $75–$100 million
Steven Schonfeld, New York, Schonfeld Group, Estimated Income: $75–$100 million
Hugh Sloane, London, Sloane Robinson Investment Management, Estimated Income: $75–$100 million
Thomas Stever, San Francisco, Farallon Capital Management, Estimated Income: $75–$100 million
Jaffray Woodriff, Virginia, Quantitative Investment Management, Estimated Income: $75–$100 million
http://www.traderdaily.com
traderdaily
---
They're called hedgehogs and fat cats, and sometimes much worse than that. We present them simply as “traders,” though in truth most are technically considered portfolio managers. There’s one word, however, that definitively describes each of the securities-industry standouts who make up this year’s Trader Monthly 100: flush.
You needed at least $75 million in 2007 *income to make the cut. Five of the forces of nature on the pages that follow cleared 10 figures. One, John Paulson, made, at minimum, a staggering $3 billion, more income banked in one year than any trader — maybe any human being — ever. Paulson wasn’t alone. Smart subprime and related bets produced windfalls for a slew of other top traders, including Phil Falcone, Richard Perry and John Burbank. Our usual elephants, Jim Simons and Stevie Cohen, did their customary stomping, while a ferocious pack of Tiger Cubs also roared into the coliseum.
Technology was back as an investment theme — a good one if you were long the right names. Financials served you well — as long as you had shorted them. This year marks the fifth annual top-*earning-traders list since Trader Monthly debuted with its inaugural rundown (based on 2003 income) in the autumn of 2004 — and oh, how the years and AUMs have, respectively, flown and grown.
Along the way, we’ve published a few estimates that wound up being too high; others, more often, came in too low. But we continue to strive for the most reasonably accurate compensation ranges that vigorous reporting can produce. But enough about our hard work; it’s time for mambo number five. The trades have been cast, the calculations made. On with our countdown. And for the third straight year, we’ve got a new top dog.
TOP 10
John Paulson, New York, Paulson & Co. Estimated 2007 Income: $3 billion+
Phil Falcone, New York, Harbinger Capital Partners Estimated Income: $1.5–$2 billion
Jim Simons, New York, Renaissance Technologies Corp. Estimated Income: $1.5–$2 billion
Steve Cohen, Connecticut, SAC Capital Advisors Estimated Income: $1–$1.5 billion
Ken Griffin, Chicago, Citadel Investment Group Estimated Income: $1–$1.5 billion
Chris Hohn, London, The Children’s Investment Fund Estimated Income: $800–$900 million
Noam Gottesman, London, GLG Partners Estimated Income: $700–$800 million
Alan Howard, London, Brevan Howard Asset Management Estimated Income: $700–$800 million
Pierre Lagrange, London, GLG Partners Estimated Income: $700–$800 million
Paul Tudor Jones, Connecticut, Tudor Investment Corp. Estimated Income: $600–$700 million
11-20
Greg Coffey, London, GLG Partners, Estimated Income: $500–$600 million
Ray Dalio, Connecticut, Bridgewater Associates, Estimated Income: $500–$600 million
Stanley Druckenmiller, New York, Duquesne Capital, Estimated Income: $500–$600 million
John Arnold, Houston, Centaurus Energy, Estimated Income: $400–$500 million
Louis Bacon, London, Moore Capital Management, Estimated Income: $400–$500 million
Israel Englander, New York, Millennium Management, Estimated Income: $400–$500 million
Jeffrey Gendell, Connecticut, Tontine Associates, Estimated Income: $400–$500 million
Dinakar Singh, New York, TPG-Axon Capital, Estimated Income: $400–$500 million
Chase Coleman, New York, Tiger Global Management, Estimated Income: $350–$400 million
Andreas Halvorsen, Connecticut, Viking Global Investors, Estimated Income: $350–$400 million
21-30
Bill Ackman, New York, Pershing Square Capital Management, Estimated Income: $300–$350 million
Jim Chanos, New York, Kynikos Associates, Estimated Income: $300–$350 million
James Dinan, New York, York Capital Management, Estimated Income: $300–$350 million
Stephen Feinberg, New York, Cerberus Capital, Estimated Income: $300–$350 million
John Griffin, Dallas, Blue Ridge Capital, Estimated Income: $300–$350 million
Dan Och, Dallas, Och-Ziff Capital Management, Estimated Income: $300–$350 million
Richard Perry, New York, Perry Capital, Estimated Income: $300–$350 million
T. Boone Pickens, Dallas, BP Capital, Estimated Income: $300–$350 million
Larry Robbins, New York, Glenview Capital Management, Estimated Income: $300–$350 million
Tim Barakett, Dallas, Atticus Capital, Estimated Income: $250–$300 million
31-40
John Burbank, San Francisco, Passport Capital, Estimated Income: $250–$300 million
Stephen Mandel, Connecticut, Lone Pine Capital, Estimated Income: $250–$300 million
Nathaniel Rothschild, New York, Atticus Capital, Estimated Income: $250–$300 million
Chris Shumway, Connecticut, Shumway Capital Partners, Estimated Income: $250–$300 million
David Slager, New York, Atticus Capital, Estimated Income: $250–$300 million
William Von Muefling, New York, Cantillon Capital Management, Estimated Income: $250–$300 million
John Zwaanstra, New York, Penta Investment Advisers, Estimated Income: $250–$300 million
Marc Lasry, New York, Avenue Capital Group, Estimated Income: $200–$250 million
Dan Loeb, New York, Third Point Management, Estimated Income: $200–$250 million
Eric Mindich, New York, Eton Park Capital Management, Estimated Income: $200–$250 million
41-50
Steven Roth, London, GLG Partners, Estimated Income: $200–$250 million
Peter Davies, London, Landsdowne Partners, Estimated Income: $150–$200 million
Dan Gold, New York, QVT Financial, Estimated Income: $150–$200 million
Steven Heinz, London, Landsdowne Partners, Estimated Income: $150–$200 million
Bruce Kovner, New York, Caxton Associates, Estimated Income: $150–$200 million
Willem Kooyker, New Jersey, Blenheim Capital, Estimated Income: $150–$200 million
Alec Litowitz, Illinois, Magnetar Capital Management, Estimated Income: $150–$200 million
Joseph Oughourlian, New York, Amber Capital, Estimated Income: $150–$200 million
Paolo Pellegrini, New York, Paulson & Co., Estimated Income: $150–$200 million
Raj Rajaratnam,(SRI LANKAN BORN)New York, The Galleon Group, Estimated Income: $150–$200 million
Galleon’s assets could fill an ocean liner: $7.5 billion, up from $5 billion a year ago. Firm-wide returns were 17.1 percent. Huge success came in the now $1.5 billion Galleon International Fund, which returned 31 percent on equity bets in India and Malaysia. Three other funds — the Buccaneer Fund, the Technology Fund and the Communications Fund — were all up 20 percent– plus. On the downside, it wasn’t the greatest year for Todd Deutsch’s Captain’s Fund, which was down 25.5 percent. In all, the captain of this crew, Rajaratnam, who is beloved in his native Sri Lanka, secured some heavy ballast.
51-60
Stuart Roden, London, Landsdowne Partners, Estimated 2007 Income: $150–$200 million
Paul Ruddock, London, Landsdowne Partners, Estimated Income: $150–$200 million
Martin Taylor, London, Thames River Capital, Estimated Income: $150–$200 million
Paul Touradji, New York, Touradji Capital Management, Estimated Income: $150–$200 million
Brett Barakett, New York, Tremblant Capital Group, Estimated Income: $100–$150 million
O. Francis Biondi, New York, King Street Capital Management, Estimated Income: $100–$150 million
Keith Campbell, Maryland, Campbell & Co., Estimated Income: $100–$150 million
Richard Chilton, Connecticut, Chilton Investment, Estimated Income: $100–$150 million
Leon Cooperman, New York, Omega Advisors, Estimated Income: $100–$150 million
William de Winton, London, Landsdowne Partners, Estimated Income: $100–$150 million
61-70
David Harding, London, Winton Capital Management, Estimated Income: $100–$150 million
Brian Higgins, New York, King Street Capital Management, Estimated Income: $100–$150 million
Michael Hintze, London, CQS Management, Estimated Income: $100–$150 million
Martin Hughes, London, Tosca Fund, Estimated Income: $100–$150 million
Mark Kingdon, New York, Kingdon Capital Management, Estimated Income: $100–$150 million
Michael Platt, London, BlueCrest Capital Management, Estimated Income: $100–$150 million
William Reeves, London, BlueCrest Capital Management, Estimated Income: $100–$150 million
Brian Stark, Milwaukee, Stark Investments, Estimated Income: $100–$150 million
Jeffrey Tannenbaum, New York, Fir Tree Partners, Estimated Income: $100–$150 million
David Tepper, New Jersey, Appaloosa Management, Estimated Income: $100–$150 million
71-80
Matthew Tewksbury, Bermuda, Tewksbury Capital Management, Estimated Income: $100–$150 million
Jeff Altman, New York, Owl Creek Asset Management, Estimated Income: $75–$100 million
William Arah, London, Marathon Asset Management, Estimated Income: $75–$100 million
Peter Briger, New York, Fortress Investment Group, Estimated Income: $75–$100 million
William Browder, London, Hermitage Capital Management, Estimated Income: $75–$100 million
Richard Chenevix-Trench, London, Sloane Robinson Investment Management, Estimated Income: $75–$100 million
David Einhorn, New York, Greenlight Capital, Estimated Income: $75–$100 million
David Ganek, Connecticut, Level Global Investors, Estimated Income: $75–$100 million
Alex Habib, London, Spinnaker Capital Group, Estimated Income: $75–$100 million
Doug Hirsh, New York, Winton Capital Management, Estimated Income: $75–$100 million
81-90
John Horseman, London, Horseman Capital, Estimated Income: $75–$100 million
Jeremy Hosking, London, Marathon Asset Management, Estimated Income: $75–$100 million
Philippe Jabre, Geneva, Jabre Capital Partners, Estimated Income: $75–$100 million
Marcos Lederman, London, Spinnaker Capital, Estimated Income: $75–$100 million
Adam Levinson, New York, Fortress Investment Group, Estimated Income: $75–$100 million
Claude Marion, London, Spinnaker Capital, Estimated Income: $75–$100 million
John Meriwether, Connecticut, JWM Partners, Estimated Income: $75–$100 million
Michael Novogratz, New York, Fortress Investment Group, Estimated Income: $75–$100 million
Crispin Odey, London, Odey Asset Management, Estimated Income: $75–$100 million
Neil Ostrer, London, Marathon Asset Management, Estimated Income: $75–$100 million
91-100
George Robinson, London, Sloane Robinson Investment Management, Estimated Income: $75–$100 million
Barry Rosenstein, New York, JANA Partners, Estimated Income: $75–$100 million
Chris Rokos, London, Brevan Howard Asset Management, Estimated Income: $75–$100 million
Gary Rosenbach, New York, The Galleon Group, Estimated Income: $75–$100 million
Art Samberg, Connecticut, Pequot Capital Management, Estimated Income: $75–$100 million
Thomas Sandell, New York, Sandell Asset Management, Estimated Income: $75–$100 million
Steven Schonfeld, New York, Schonfeld Group, Estimated Income: $75–$100 million
Hugh Sloane, London, Sloane Robinson Investment Management, Estimated Income: $75–$100 million
Thomas Stever, San Francisco, Farallon Capital Management, Estimated Income: $75–$100 million
Jaffray Woodriff, Virginia, Quantitative Investment Management, Estimated Income: $75–$100 million
http://www.traderdaily.com
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---
