The Advantage Plus Fund he manages returned 17% that year.
In 2011, he steered the same fund to a 51% loss.
Paulson Advantage Plus Fund Drops 51% in 'Aberrational Year'
So that means he didn't top the list in pay among hedge fund managers in 2011.
Here's who did.
The Rich List
1 Raymond Dalio (Bridgewater Associates): $ 3.9 billion
2 Carl Icahn (Icahn Capital Management): $ 2.5 billion
3 James Simons (Renaissance Technologies Corp.): $ 2.1 billion
4 Kenneth Griffin (Citadel): $ 700 million
5 Steven Cohen (SAC Capital advisors): $ 585 million
Pay For Top-Earning U.S. Hedge Fund Managers
The top 25 hedge fund managers in pay earned a combined $ 14.4 billion. So their average pay came in at $576 million per manager last year.
That's down from $883 million in 2010.
I guess that makes 2011, at least by comparison, quite a bargain.
There shouldn't be much ambiguity about how I view these kind of fees based upon prior posts.
To me, the idea of paying someone even 1% to manage money seems expensive.
Frictional costs gone wild.