Tuesday, April 16, 2013

Okay Everybody, Line Up....

Yesterday's number, $10 billion, being the aggregate compensation last year for the 10 best-paid hedge fund operators.

For comparison, how many people still live on a dollar a day?  Oh, it's a squishy number a bogus question; still, a good guess would be about a billion (there's a pretty good Wiki discussion); that would be $365 a year.  So $10b/$365 = 27,397,360, which is about halfway between the population of Nepal and Venezuela.  Okay everybody, line up, there's gruel.

Afterthought:  shed a tear for Daniel Loeb who weighs in at number 10 on the list with $380 million.  He's probably not dining on gruel tonight, but my guess is that he is the kind of guy wakes up mad every day that there are nine guys on the list who made more money last year than he.


bleary said...

How about those poor investors in Third Point, who just found out they've only got the 10th-best hedge fund manager?

Buce said...

Oh. Right. Investors. Sure, if that's a problem for you. OTOH, are you sure they do have only the 10th best manager? I know about two-and-twenty but I wouldn't be surprised if some of these guys have performance records that do much less than justify their outsized payday.