You Know Who - Renaissance Watch

DW · Post by DW » Thu Jun 17, 2004 4:26 pm

"is there a well-known hedge fund in chi whose name does NOT represent "a fortress in a commanding position in or near a city"?

Nope - you've hit the nail on the head.

chiral3 · Post by **chiral3** » Thu Jun 17, 2004 4:28 pm

I thought we agreed, only French HF - 20% + 10% of assets. I am on my way to Paris. My fund will be called

Maginot Investments.

chiral3 · Post by **chiral3** » Thu Jun 17, 2004 4:32 pm

Oh, wait, that was an impenetrable wall too. Darn.

LongTheta · Post by **LongTheta** » Mon Jun 21, 2004 5:00 am

Does RenTec trade futures and only futures? I was told that RenTec makes its money in FX.

PanzerMeyer · Post by **PanzerMeyer** » Thu Jul 01, 2004 11:33 am

there was an article in ABsoluteREturn in April i guess or March, about a guy with a ?russian name, he is in chicago, is that him /

in this very same publication, same month, there was an article about the fact taht Simons sued a former trader or I expert for leaving and bringing out secrets from Renaissance, etc.

secondMan · Post by **secondMan** » Tue Jul 20, 2004 6:48 pm

i think renaissance tries to exploit inefficiencies whereever they can find one. forex, stocks, options, commodites ... if i were them i had a team for each and every opportunity out there.

opmtrader · Post by **opmtrader** » Wed Jul 21, 2004 7:15 pm

It's good to be Jim Simons:

Three Hedge Fund Managers Made $500 Mln, Alpha Says (Update2)

2004-07-20 09:41 (New York)

Three Hedge Fund Managers Made $500 Mln, Alpha Says (Update2)

(Adds that Cohen declined to comment in 10th paragraph.)

By Samantha Lafferty

July 20 (Bloomberg) -- Three hedge fund managers made at least

$500 million last year, led by Hungarian-born George Soros and

David Tepper of Appaloosa Management, according to a survey by

Institutional Investor's Alpha magazine.

Soros earned an estimated $750 million, regaining the top spot

after failing to make the list of the 25 highest-paid managers in

2002, Institutional Investor said in a statement. Soros's flagship

$8.3 billion Quantum Endowment Fund climbed 15 percent in 2003.

Soros, 73, is the biggest investor in the Quantum fund.

Tepper, 46, a former Goldman Sachs Group Inc. junk bond trader

who founded Appaloosa in Chatham, New Jersey, made $510 million and

James Simons of New York-based Renaissance Technologies Corp.

pulled in about $500 million, Alpha reported.

``The wealth being created by hedge fund managers is simply

staggering,'' Institutional Investor said in the statement. ``Never

have so few made so much so fast.''

Seventeen managers earned more than $100 million in 2003, up

from seven in 2002, the magazine said. Institutional Investor said

it compiled the rankings from estimates of fees generated by the

funds that they manage, plus estimated gains from their own capital

in the funds.

Hedge funds tend to charge the highest fees in the asset

management industry, taking 20 percent of any investment gain, plus

1 percent of assets under management. The average take-home pay for

the top 25 managers in 2003 was $207 million, almost double that of

2002, Institutional Investor said.

Lampert and Kovner

Hedge funds, which can profit from falling as well as rising

market prices, attracted a record $60 billion of new investments

last year from clients including pension funds and insurers,

according to Tremont Capital Management in Rye, New York.

Edward Lampert, founder and chief executive of ESL Investments

Inc., made $420 million, ranking behind Soros, Tepper and Simons,

Institutional Investor said.

Bruce Kovner of New York-based Caxton Associates is tied in

fifth place with Steven Cohen of SAC Capital Advisors in Stamford,

Connecticut, with earnings of $350 million. In 2002, Kovner was the

biggest earner, Institutional Investor said.

Cohen declined to comment through a company spokesman, and the

rest of the money managers weren't available for comment.

Below is a table of the top 10 earners in the hedge fund

industry in 2003, according to Institutional Investor:

George Soros $750 million Soros Fund Management

David Tepper $510 million Appaloosa Management

James Simons $500 million Renaissance Technologies

Edward Lampert $420 million ESL Investments

Steven Cohen $350 million SAC Capital Advisors

Bruce Kovner $350 million Caxton Associates

Paul Tudor Jones $300 million Tudor Investment

Kenneth Griffin $230 million Citadel Investment

Daniel Och $150 million OCH-Ziff Capital Management

Leon Cooperman $145 million Omega Advisors

chiral3 · Post by **chiral3** » Wed Jul 21, 2004 7:30 pm

Fuck Me. Fuck Me. What the hell am I doing wasting my life where I am. Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn, Damn

NeroTulip · Post by **NeroTulip** » Wed Jul 21, 2004 7:50 pm

Don't be so harsh with yourself just because you couldn't make it into the top ten with your $144m...

chiral3 · Post by **chiral3** » Wed Jul 21, 2004 7:57 pm

I should have made 144mm. Everyone on this board should. We should rule the world. This forum has more brains, education, experience, and ability than entire departments at banks. FUK!!!!!!!!!!!!!!!! 500mm