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Strategies & Market Trends : Moomin Valley (formerly Troll-free Zone)

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From: RealMuLan	4/26/2007 9:47:39 PM
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[From today's Daily Reckoning, amazing!]--"The latest figures show that hedge fund manager Jim Simons earned $1.7 billion last year. Is that too much? He takes an unbelievable 5% of his clients’ assets each year, in payment for his services - plus, and even more unbelievable, 44% of profit. Is that too much? Readers will remark that his $6 billion Medallion fund rose 84% last year (Simons is good with figures). Investors came out ahead more than 40% even after paying the outrageous fees. Or what about Ed Lampert or Kenneth Griffin, each of whom also earned more than $1 billion last year. Was that too much? We don’t know. But we came back from our vacation, opened our eyes, and thought we saw ‘too much’ everywhere we looked. Money streams into new investment funds. Even Brian Hunter, who lost $6 billion trading energy for Amaranth, is starting up a new fund. And John Arnold, formerly of the Enron energy-trading desk, earned more than $240 million last year - partly by taking the other side of Hunter’s trades."

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