BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Wealthporn Day Arrives

Market Movers

by Felix Salmon
Main
Can Restaurants Auction Their Reservations?   Credit Derivatives Datapoint of the Day

Recent Blog Posts

Links

Apr 16 2008 12:00am EDT

WealthPorn Day Arrives

It's WealthPorn Day today, also known as the day that Alpha magazine releases its annual list of the top-earning hedge fund managers. Of course, that also makes it a great day for politicians, including Hank Paulson, to call for greater regulation of the hedge-fund industry.

George Soros is at #2 on the list with income of $2.9 billion: I'm impressed that he's even eligible, given that he doesn't actually manage his Quantum Endowment fund. (Julian Robertson, who made a ten-figure sum himself, was excluded from the list on the grounds that he "doesn't have outside investors", which makes me wonder why James Simons's Medallion fund was included.)

I'm also mildly tickled by the fact that the chief critic of these paydays, in Jenny Anderson's story about the list, is billionaire Pimco founder Bill Gross. Obviously some ways of making megabucks are more kosher than others.

blog comments powered by Disqus
Real Business, Real Results
Out of the 'Family'

Did anyone at Microsoft ever watch the (gasp!) offensively funny show Family Guy?

Cruz Missile Lands

Ex-Morgan Stanley exec Zoe Cruz is now heading her own hedge fund. Are Wall Street's leaders done?

Scandal Chic

Martha, Bernie and Skilling know that what you wear for court can go a long way in public perception.

spotlight on

Health Care

Bad to the Bone No More

Companies such as General Mills say they're stepping up efforts to change employees' bad behavior and promote healthier lifestyles. Read More