A look at hedge fund pay. It staggers my imagination.
"The $10.3 billion in pay for the 20 highest earners was down 45% from 2007 and 22% from 2006"But not all were down. Take for instance James Simons:
"James Simons, who runs Renaissance Technologies..., tops our list with earnings of $2.8 billion in 2008, even though two of his three funds were down for the year. The exception was his Medallion fund, which grew a staggering 84%, even after deducting its steep fees--44% of profits and 5% of assets (the industry standards are 20% and 2%)....
Simons, a former Defense Department code-breaker and mathematics professor at the State University of New York at Stony Brook, uses complex quantitative models to identify companies that are misvalued. He made $1.3 billion from his estimated 40% share of the company's fees and $1.6 billion on the appreciation of his own investments within the funds he manages"