Profits boom at top 20 funds including TCI, Citadel, Viking and Pershing Square thanks to rebound in stock markets

Profits boom at top 20 funds including TCI, Citadel, Viking and Pershing Square thanks to rebound in stock markets

Billionaire hedge fund managers Chris Hohn and Ken Griffin led the industry to record profits last year as bets on the stock market paid off handsomely for clients.

The top 20 hedge fund managers made $67bn (£53bn) in profits for investors in 2023, as the industry made combined profits of $218bn, topping the previous record of $65bn set in 2021.

TCI Fund Management, which is run by British billionaire Hohn, who paid himself $346m last year, topped the list making $12.9bn for clients.

Citadel, founded by the US billionaire Ken Griffin, who has been involved in a bid for the Telegraph newspaper with the co-owner of GB News, ranked second, making $8.1bn.

  • FlowVoid@lemmy.worldEnglish
    1·
    8 months ago

    Probably because the dead squirrel is reminiscent of Buffett’s “cigar butt” investing philosophy.

    I call this the ‘cigar butt’ approach to investing. A cigar butt found on the street that has only one puff left in it may not offer much of a smoke, but the ‘bargain purchase’ will make that puff all profit

    But Buffett ultimately gave up that philosophy when he started working with Munger.