Most of us go through our entire lives never ever knowing who is the highest paid (salary and incentives) person on earth, not to mention what he looks like, or how he did it.
NOW, you get a chance, with this 3 mins NBC video clip, to get to know the top 5 earners in the Hedge Fund Industry.
These men are the epitome of "Fulfiling One's True Potential". They are called the Masters of the Universe; the Lords of Wall Street, due to what they earn in salaries and performance incentives in a single year.
BUT, they didn't receive the money from the Government. They earned their pay by charging the Super Rich for managing their money, and the Super Rich willingly pay them for their services.
Whilst the general laymen in US and the world are screaming and complaining about how much CEOs in US are paid, i.e. around US$100 million, the Super Rich have no qualms paying these Hedge Fund Managers 10 to 37 times more!
The Top 5 Hedge Fund Income Earners for year 2007 are: -
NOW, you get a chance, with this 3 mins NBC video clip, to get to know the top 5 earners in the Hedge Fund Industry.
These men are the epitome of "Fulfiling One's True Potential". They are called the Masters of the Universe; the Lords of Wall Street, due to what they earn in salaries and performance incentives in a single year.
BUT, they didn't receive the money from the Government. They earned their pay by charging the Super Rich for managing their money, and the Super Rich willingly pay them for their services.
Whilst the general laymen in US and the world are screaming and complaining about how much CEOs in US are paid, i.e. around US$100 million, the Super Rich have no qualms paying these Hedge Fund Managers 10 to 37 times more!
The Top 5 Hedge Fund Income Earners for year 2007 are: -
- John Paulson (Paulson & Co., Inc) - US$ 3.7 billion (Highest in the whole Hedge Fund Industry)
- George Soros (Soros Fund Management, LLC) - US$2.9 billion
- James Simons (Renaissance Tehcnologies) - US$2.8 billion
- Philip Falcone (Harbinger Capital Partners) - US$1.7 billion
- Kenneth Griffin (Citadel Investments Group, LLC) - US$1.5 billion
Any one, who has shown a little bit of interest in the financial markets, would have heard of George Soros. He is probably the most famous Hedge Fund Manager in the world. Many aspiring Hedge Fund Managers have also bought his book, "Alchemy of Finance", but few have read it to the end. I am one of the few.
Soros is more notoriously known as "the man who broke the Bank of England" when he attacked the British Pound and won, and he was alleged by Dr. Mahathir as "the Rogue Speculator" who is the cause of the Asian Currency Crisis.
However, there is another side to Mr. Soros. He is an active philantrophist, from supporting the black students in apartheid Africa, to pledging US$50 million to the Jeffrey Sachs "Millenium Promise" program to help fight extreme poverty in Africa.
Mr. Soros' Hedge Fund adopts the Global Macro Strategy Approach, which is actually a Fundamental Analysis Approach of Global Markets & Economy.
It has been extremely difficult, if not impossible for the media to print a picture of Mr. James Simons, so, to be able to view him in person on this video clip, is ....... like viewing your favorite actress in the nude .... hahaha, .... at least for a great fan of the Hedge Fund Industry, it is.
Practically, no one outside the Hedge Funds Industry, and only a few specialist journalists have heard of Mr. Jim (James) Simons, or of his Hedge Fund, Renaissance Technologies, and yet, Mr. Simons runs one of THE MOST Successful Hedge Funds in the World.
His hedge fund is so successful that he doesn't need any marketing publicity, nor does he need to market for investment funds at all. In fact, some claim that he has turned a number of potential clients down.
Soros is more notoriously known as "the man who broke the Bank of England" when he attacked the British Pound and won, and he was alleged by Dr. Mahathir as "the Rogue Speculator" who is the cause of the Asian Currency Crisis.
However, there is another side to Mr. Soros. He is an active philantrophist, from supporting the black students in apartheid Africa, to pledging US$50 million to the Jeffrey Sachs "Millenium Promise" program to help fight extreme poverty in Africa.
Mr. Soros' Hedge Fund adopts the Global Macro Strategy Approach, which is actually a Fundamental Analysis Approach of Global Markets & Economy.
It has been extremely difficult, if not impossible for the media to print a picture of Mr. James Simons, so, to be able to view him in person on this video clip, is ....... like viewing your favorite actress in the nude .... hahaha, .... at least for a great fan of the Hedge Fund Industry, it is.
Practically, no one outside the Hedge Funds Industry, and only a few specialist journalists have heard of Mr. Jim (James) Simons, or of his Hedge Fund, Renaissance Technologies, and yet, Mr. Simons runs one of THE MOST Successful Hedge Funds in the World.
His hedge fund is so successful that he doesn't need any marketing publicity, nor does he need to market for investment funds at all. In fact, some claim that he has turned a number of potential clients down.
One may think that this is an exaggeration, but wait till you read the next piece of information. Mr. Simons charges much, much more than George Soros. Where George Soros charges 30% profit sharing incentive above a certain threshold in fund performance, Mr. Simons charges a whopping 50%, and yet, there is more money coming to him, than he cares to manage.
In year 2006, the Financial Times named him "THE SMARTEST BILLIONAIRE" in the world. He is also ranked the 57th Richest Man in America. Mr. Simons has a Ph.D in Mathematics from University of California, Berkeley and taught this subject at MIT and Harvard University, prior to becoming a Hedge Fund Manager.
For those of you who think that most professors are mere academician,s Mr. Simons is the epitome of a brilliant professor who has converted knowledge into money in the bank.
Mr. Simons' Hedge Fund Strategy is called Systematic Quantitative Trading, and it has been said that he employs 50 Ph.Ds to develop complex mathematical models to analyze and execute trades. It is said that his firm doesn't use traders, but instead, gets the computers to make all the trading decisions.
Guys, if you are still reading at this point, here is the profound statement: -
"50 Ph.Ds are working their butts out to refine computer programs that will trade WITHOUT FEAR to make money from you.
Computers are trading against you every time you take a trade.
These computers have one objective written into their software program in making trading decisions - Win your money!"
If you have a son or a daughter who loves mathematics, tell him about Dr. James Harris Simons, THE SMARTEST BILLIONAIRE on earth.
What is most impressive about Mr. Simons and his hedge Fund Technology is not his Rocket Scientist Approach, but his fund's ability to deliver consistent profitability year after year. IT CAN BE DONE, BUT YOU'VE GOTTA KNOW WHAT TO DO, AND TO PUT IN REAL EFFORT TO MAKE IT HAPPEN.
Philip Falcone is 707th Richest Man in the world according to Forbes, and Business Week calls him the "Midas of Misery" as he betted correctly on the Sub-Prime Defaults, and made a huge fortune last year.
It is important to note that Mr. Falcone did not cause the Sub-Prime Crisis, nor did he take part in lending money to these people.
He started his career at the junk bonds desk, and became THE EXPERT on Distressed Debt Hedge Fund Strategy. He has a Harvard Bachelor's Degree, and is a self made billionaire. He lives in New York.
In year 2006, the Financial Times named him "THE SMARTEST BILLIONAIRE" in the world. He is also ranked the 57th Richest Man in America. Mr. Simons has a Ph.D in Mathematics from University of California, Berkeley and taught this subject at MIT and Harvard University, prior to becoming a Hedge Fund Manager.
For those of you who think that most professors are mere academician,s Mr. Simons is the epitome of a brilliant professor who has converted knowledge into money in the bank.
Mr. Simons' Hedge Fund Strategy is called Systematic Quantitative Trading, and it has been said that he employs 50 Ph.Ds to develop complex mathematical models to analyze and execute trades. It is said that his firm doesn't use traders, but instead, gets the computers to make all the trading decisions.
Guys, if you are still reading at this point, here is the profound statement: -
"50 Ph.Ds are working their butts out to refine computer programs that will trade WITHOUT FEAR to make money from you.
Computers are trading against you every time you take a trade.
These computers have one objective written into their software program in making trading decisions - Win your money!"
If you have a son or a daughter who loves mathematics, tell him about Dr. James Harris Simons, THE SMARTEST BILLIONAIRE on earth.
What is most impressive about Mr. Simons and his hedge Fund Technology is not his Rocket Scientist Approach, but his fund's ability to deliver consistent profitability year after year. IT CAN BE DONE, BUT YOU'VE GOTTA KNOW WHAT TO DO, AND TO PUT IN REAL EFFORT TO MAKE IT HAPPEN.
Philip Falcone is 707th Richest Man in the world according to Forbes, and Business Week calls him the "Midas of Misery" as he betted correctly on the Sub-Prime Defaults, and made a huge fortune last year.
It is important to note that Mr. Falcone did not cause the Sub-Prime Crisis, nor did he take part in lending money to these people.
He started his career at the junk bonds desk, and became THE EXPERT on Distressed Debt Hedge Fund Strategy. He has a Harvard Bachelor's Degree, and is a self made billionaire. He lives in New York.
Kenneth Griffin is 117th Richest Man in the world (Forbes) for year 2007. He also has a Harvard Bachelor's Degree (Economics), and when he graduated, he started making money in Convertible Bonds. Eventually, he impressed an investor who gave him his first US$1 million to invest, and word soon spreaded t the Rich People that Mr. Griffin was a great Hedge Fund Manager who delivered results. With that kind of performance reference, Mr. Griffin has grown Citadel to being one of the largest and best hedge funds in the world as at 2007.
John Paulson is 165th Richest Man in America (Forbes 2007). He graduated top in his class at NYU for his Bachelor's Degree, and for his MBA at Harvard, he won the school's top academic honor, i.e. the designation of Baker Scholar. Mr. Paulson (no relation to Treasury Secretary Hank Paulson), is proof that Harvard MBAs can become rich as an entrepreneur, and not merely as consultants or investment banker.
It has been said that George Soros bought Mr. Paulson lunch, just to find out how he did it. At Soros age, his will to learn new things should amaze all of us. Most of us won't even read the book that is in front of us, even if we are told it will help us make money, much less, buy lunch to learn from someone. Of course, Mr. Paulson is not anyone. He is SOMEONE - he is the Highest Paid Hedge Fund Manager on Earth.
I hope you enjoyed this short introduction to the 5 Masters of the Universe, the Lords of Wall Street. These are the people we should be listening to, when we want an opinion on the markets. However, it is rare indeed for any one of these Billionaire Hedge Fund Managers to give their opinions and advice on the market, with the notable exception of Mr. George Soros, who started his career as a research analyst. Up to today, Mr. Soros' research paper on REITs, written in the 1970s, is still a brilliant and an enlightening paper to read.
The story of Dr. Jim Simons was the man who inspired me 1.5 years ago, to research into the mysteries of the Hedge Fund World, and find the secret formulas to success to making money.
Best wishes,
Ooi
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