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If you're a hedge fund manager, it's been a good year
While the country seems to be heading into tough economic times, guess who is not touched by them? Hedge fund managers, of course.
Alpha magazine came out with its annual survey of hedge fund managers' yearly gains. One manager, John Paulson, made $3.7 billion last year. George Soros made almost $3 billion. The top 25 on the list earned an average $892 million, up from $532 million in 2006.
And of course, their secrets include getting ahead of the news in the markets. John Paulson, for example, predicted the decline in value of those flaky mortgage-backed securities back in 2005.
What recession?
Posted by Lori Stassi on April 16, 2008 9:07 AM PT | Permalink
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