1. Pete Peterson of Blackstone

Quitting while he was ahead.

Okay, so he's technically not a C.E.O., but Blackstone Group chairman and cofounder Pete Peterson deserves credit for superb timing in cashing in his chips. Blackstone's I.P.O. in June came when the firm was at the height of its power -- and just on the eve of a series of major blows to the private equity industry.

Unlike Blackstone C.E.O. Steve Schwarzman, who opted to take much of his share in stock options, Peterson walked away from the offering with $1.88 billion in cold, hard cash. Hindsight confirms what a smart move he made: Blackstone shares now trade at just two-thirds of their $31 initial offer price.

2. Steve Jobs of Apple

Steering blame to his underlings.

Call Steve Jobs the Teflon C.E.O.—while most chief execs have been serving as target practice for frustrated investors, Jobs and his iconic black turtleneck remain immune to public ire.

After scores of backdated stock option grants came to light, Apple Inc.'s board rallied behind Jobs and passed the buck on to former General Counsel Nancy Heinen and ex-finance chief Fred Anderson—even after conceding that Jobs had been aware of and involved in the backdating.