Join The Discussion

 

Dallas Fed's Fisher, Philadelphia Fed leaders to retire in 2015

WASHINGTON — The outspoken president of the Federal Reserve Bank of Philadelphia will step down in March, shortly before the central bank is expected to raise interest rates for the first time since the recession, the regional bank said Monday.

read more >

RadioShack sees stock jump on investment report

Fort Worth-based RadioShack saw its stock increase as much as 45 percent on Friday as investor Standard General LP said it was continuing talks on new financing for the electronics retailer.

read more >

Fort Worth couple gets in 'Shark Tank,' comes out with deal

A Fort Worth couple who started a business when they couldn’t sleep, were the first entrepreneurs to get a deal on ABC’s Shark Tank in the season premiere on Sept. 26.

read more >

Internal audit says EPA mismanaged Fort Worth project

FORT WORTH, Texas (AP) — An internal audit by the U.S. Environmental Protection Agency reveals the agency mismanaged an experiment using new ways to demolish asbestos-ridden buildings.

read more >

Weatherford's Wild Mushroom to open in Fort Worth's Ridglea Village

Weatherford restaurant staple The Wild Mushroom Steak House & Lounge will be coming to Fort Worth in November, moving into the former site of Ray’s Steakhouse at to 3206 Winthrop Ave. in the Ridglea Village Shopping Center.

read more >

Top 25 hedge managers make $14.14 billion in slow year

NEW YORK (CNNMoney) -- Last year was a tough one for hedge funds, but the 25 top-earning hedge fund managers still managed to pull in a combined $14.14 billion in 2012, according to an Institutional Investor magazine ranking.

The 12th annual "rich list" placed David Tepper, founder of the New Jersey-based Appaloosa Management, atop its ranking. Institutional Investor said he made $2.2 billion in 2012.

Three others earned more than $1 billion apiece: Bridgewater Associates' Raymond Dalio with $1.7 billion, SAC Capital Advisors' Steven Cohen with $1.4 billion and Renaissance Technologies' James Simons with $1.1 billion.

The rankings are based on combined earnings from performance fees and management fees. All managers on the list earned at least $200 million, up from a minimum of $100 million from a year earlier.

It may seem striking that managers took home such hefty paychecks, considering that the average hedge fund returned just 6.2% in 2012, according to Hedge Fund Research, in a year when the S&P 500 gained 13%.

But while the payout numbers are high, the combined $14.14 billion earned by the ranked managers is the lowest sum since 2008. Last year's number was down just slightly from 2011.

There was only one new kid on the block on this year's list: Discovery Capital Management's Robert Citrone made it into the rankings for the first time.

Several of 2011's top earners disappeared from this year's list, including Carl Icahn, after he returned his investors' money in 2011 and only invested with his fund's own capital.

 

< back

Email   email
hide
Arena
What do you think of the new plans for a new Will Rogers arena and changes at the Convention Center?