"The best way to keep money in perspective," Louis Rukeyser, the
host of a popular U.S. weekly television investment show, has said,
"is to have some."
Top hedge fund managers sure must have a lot of perspective.
Just to make Institutional Investor's second annual list of
the 25 highest-earning hedge fund managers, these alpha males (and
all were men) had to haul in $30 million in 2002. No fewer than
seven in this elite group reaped more than $100 million -- and this
was in a lousy year for the markets!
Then again, the appealing thing about hedge funds is that
they're not meant to correlate with stock markets. Instead, they
pursue absolute returns. And 2002 was a good year to part company
with the stock markets for the long side: The Standard & Poor's
500 index fell 23 percent; the Nasdaq composite index, 32 percent;
and the Dow Jones Stoxx 600 index, 32 percent....
