BizJournals Portfolio

A Dying Breed

Jan 07 2009

Back to: The Man Who Made Too Much

Hedge fund managers
Steve Cohen
James Simons
Eddie Lampert
Ken Griffin
Pierre Lagrange
Philip Falcone
1 of 12
The Not So Lucky
John Paulson may be thriving, but most of the other hedge fund kings are fading fast.
Steve Cohen
SAC Capital Advisors
After a series of bad bets, including a prediction that Volkswagen stock would head south, the value of Cohen’s fund plummeted 18 percent for the year ended in November.
James Simons
Renaissance Technologies
Simons, one of the country’s most successful hedge fund managers, saw assets in his flagship Institutional Equities fund drop nearly 15 percent.
Eddie Lampert
ESL Investments
Lampert has been hit hard, in part ­because of his stakes in Kmart, Sears, and AutoZone. In September and ­October, the value of his holdings dropped an average of $193 million a day.
Ken Griffin
Citadel Investment Group
Griffin’s fund saw some of its ­biggest losses during the market earthquakes of September and October. In November, Citadel received a new debt rating: two levels above junk.
Pierre Lagrange
GLG Partners
Lagrange’s fund had a rough third quarter in 2008; GLG Partners posted a loss of $167.1 million, which was attributed to special “compensation-related” charges.
Philip Falcone
Harbinger Capital Partners
Although Falcone’s fund was up more than 40 percent during the first half of 2008, that gain was almost entirely wiped out in the third quarter.

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