Soros Best In 2013, Tops Dalio With Massive $40 Billion Lifetime Gain

Tyler Durden's picture


Size matters, it would seem, in the world of elite hedge fund managers. George Soros' Quantum Fund had its 2nd-best year on record, adding $5.5bn (22%) to the pound-breaking billionaire's horde and has now shifted above Ray Dalio's Bridgewater fund as the most successful hedge fund of all time. As The FT reports, since inception in 1973, Quantum has generated almost $40bn. Four other funds including Tepper's Appaloosa, Mandel's Lone Pine, and Klarman's Baupost also made more than $4 bn for their investors. Since they were set up, the top 20 hedge funds have made 43 per cent of all the money made by investors in more than 7,000 hedge funds.


Via Bloomberg and The FT,

Soros Best of all-time...

George Soros’s Quantum Endowment fund had its second-best year ever in dollar terms in 2013, adding $5.5bn to the billionaire’s fortune and putting Quantum back in top place among the most successful hedge funds of all time.


The gains mark a return to stability for Quantum, which Mr Soros closed to non-family members at the end of 2011 to avoid regulatory scrutiny under the Dodd-Frank financial reforms.




Last year’s return means Mr Soros has displaced Ray Dalio’s Bridgewater Pure Alpha as the fund that has made the most money for investors. It has generated almost $40bn since it was founded in 1973, according to Rick Sopher, chairman of LCH Investments, who compiled the rankings.



But size matters...

Four other funds made $4bn or more last year, all correctly calling the strong run in equities, which resulted in the US stock market returning 32 per cent. They were Lone Pine and Viking, the most successful “Tiger cub” protégés of Tiger Management’s Julian Robertson; David Tepper’s Appaloosa; and Baupost, founded by the Boston-based deep-value investor Seth Klarman.




The firms benefited from winning bets on companies such as Inc., Goodyear Tire & Rubber Co. and Delta Air Lines Inc. that outperformed U.S. stock market indexes, regulatory filings show.


Since they were set up, the top 20 hedge funds have made 43 per cent of all the money made by investors in more than 7,000 hedge funds.

And some are on the comeback...

John Paulson returned to form in 2013 by netting clients $2.6 billion, according to LCH’s report. Paulson, who became a billionaire in 2007 betting against the U.S. housing market, posted gains in 2013 ranging from 18 percent to 63 percent at several of his strategies, a person with knowledge of the matter told Bloomberg News last month.


Paulson, whose New York-based firm manages $20 billion, made $200 million for his clients in 2012 after losing almost $10 billion for them in 2011 when he had his worst investing year, according to LCH.

Perhaps best summing up the current euphoria, one hedge fund analyst noted (somewhat ironically given the name "hedge fund"):

“Too many managers now focus on risk control at the expense of returns.”

But there was a warning:

“The challenge will be to trade tactically,” he said. “The discounting of financial repression over the past few years has merely brought forward future returns and left a rather less enticing landscape to long-only managers.”

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Mon, 02/10/2014 - 11:01 | 4419751 Sudden Debt
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and medical because they seem to be kicked back or something...

Mon, 02/10/2014 - 11:03 | 4419775 Clint Liquor
Clint Liquor's picture

Life is good for the crony-capitalist.

Mon, 02/10/2014 - 11:07 | 4419783 gmrpeabody
gmrpeabody's picture

Life is good when you get your news the day before everybody else...

With that kind of assist, even a blind monkey could do it.

Mon, 02/10/2014 - 11:27 | 4419847 Derezzed
Derezzed's picture

Oh well at least Georges knows how to best use his money in his own interest and ours : destabilizing all Middle-East and East Europe so that they can enjoy the benefits of the PAX Americana.


Mon, 02/10/2014 - 11:40 | 4419894 Clint Liquor
Clint Liquor's picture

even a blind monkey could do it

Buffet buys Railroad, has Obama stop XL Pipeline, makes a fortune hauling oil by Rail.

Brilliant investor.

Mon, 02/10/2014 - 11:49 | 4419917 Big Corked Boots
Big Corked Boots's picture

Collaboration is profitable.

The trick is to remain one step ahead of the rope and lamppost... and after you reach a certain level of wealth, that's easy.

Mon, 02/10/2014 - 14:05 | 4419928 gmrpeabody
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Yes, well you do achieve a higher level in the justice system at a certain point..., and if you sprinkle contributions in the right directions. Elementary, Cork.

Mon, 02/10/2014 - 15:42 | 4420733 BorisTheBlade
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That, and get invested into lamp post and guilotines since it's a soon-to-be a growth industry.

Mon, 02/10/2014 - 12:18 | 4420002 DeadFred
DeadFred's picture

Anyone know how many governments you can overthrow with 5.5B? What is the going price for a synthesized revolution now days? It hard to keep current on these things

Mon, 02/10/2014 - 11:26 | 4419848 Derezzed
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Mon, 02/10/2014 - 11:06 | 4419784 ArkansasAngie
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When you make the rules its easy to win

Mon, 02/10/2014 - 11:30 | 4419862 Mister Kitty
Mister Kitty's picture

Money is great.  But it doesn't stop you from dying.  What a pisser.

Mon, 02/10/2014 - 12:35 | 4420077 NotApplicable
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How many logins have you made here to pimp your dumb blog?

Mon, 02/10/2014 - 11:33 | 4419871 Offthebeach
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Looks like Hillary is going to get a lot more $2mil speaking fees from various ( cough cough ) " foundations ".

( Have the Clintons net worth surpassed Mittens yet? Such is the difference between retail and wholesale. )

Mon, 02/10/2014 - 12:35 | 4420068 Freddie
Freddie's picture

Soros is a scumbag.   Ray Dalio is smart.

Mon, 02/10/2014 - 10:58 | 4419752 Dollar Bill Hiccup
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Let's give three cheers for the Despicable!


Mon, 02/10/2014 - 11:04 | 4419768 mayhem_korner
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Does it help to have inside information?  Jus wunnerin...

Mon, 02/10/2014 - 11:05 | 4419778 IridiumRebel
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....any place but earth, Mr. Soros. Feel free to check out any time. 

Mon, 02/10/2014 - 11:18 | 4419831 Rock the Casbah
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I think it's easier for a rich man's needle to pass through the camel toe....

Mon, 02/10/2014 - 12:06 | 4419979 SAT 800
SAT 800's picture

LOL. Pretty sure you got that right !!

Mon, 02/10/2014 - 11:08 | 4419788 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

Another datapoint confirming that the majority of the remaining 6,980 hedge funds are nothing more than leveraged beta vehicles fleecing their investors with 2 & 20 fee structures.

Mon, 02/10/2014 - 11:08 | 4419790 Infinite QE
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Now he can afford to give a raise to his protesters in the Ukraine.

Mon, 02/10/2014 - 12:09 | 4419984 SAT 800
SAT 800's picture

I feel like speaking in his defense on this issue; I doubt very much he's doing that. There's another long time Washington insider who is a prime suspect; but I don;t feel like mentioning his name,  Soros; like most people, has done some good and some bad, but he was trying to help Russia economically just after their financial disaster associated with their breakup of the Soviet Union; very doubtful he's foolish enough to believe in or spend money prevaricating for an independent Ukraine.

Mon, 02/10/2014 - 12:23 | 4420034 walküre
walküre's picture

Didn't he "help" Russia at the expense of the BoE? That guy?

Mon, 02/10/2014 - 12:36 | 4420078 Freddie
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He helped the oligarchs steal the resources of Russia.  Putin took a lot of them back for Russia and probably some for himself.

Mon, 02/10/2014 - 15:29 | 4420660 Infinite QE
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"The latest professionally-agitated spectacle in Kyiv’s was spearheaded by the same Soros/Sharp/National Endowment for Democracy/CIA hydra that saw the overthrow of Ukraine’s government in 2004 in the so-called Orange Revolution. This time, not only is Ukrainian President Yanukovych, but ultimately Russian President Vladimir Putin, are the target"

Mon, 02/10/2014 - 11:11 | 4419793 Dr. Engali
Dr. Engali's picture

Finacial repression for the past feww years have brought future gains forward? It's more like 43 years of printing funny money have brought gains forward and we are now paying the price.

Mon, 02/10/2014 - 11:26 | 4419856 Oldwood
Oldwood's picture

AS with anything, ignorance is our greatest weakness that is played upon to our disadvantage. Gambling relies on a certain amount of ignorance for if you knew all the facts it wouldn't be gambling, and if done in the context of gambling it would be considered cheating. So, ignorance of the facts is our enemy and there are those who will attempt to lead us to believe they have knowledge or access to facts that others do not, thereby creating advantage, or "opportunity" as some would call it. There are those with enough money, power and connections like Soros who can effectively predict the future because in many ways they are creating the future. But those who have this ability are not going to give it away or sell it cheaply, and if they can, they will keep the lion's share in their own pocket. I wonder how much of Soros' fund is his own money? Regardless, If Soros is making this kind of money, in the casino, someone else must be losing it as well. Gamble on Mad Men.

Mon, 02/10/2014 - 11:11 | 4419794 Stuart
Stuart's picture

Hedgefunds are generally a very lousy place to park your money unless you want to finance a ridiculously opulent lifestyle of the fund manager.  He profits on the win, doesn't lose on the loss. 

Privatize gains, socialize losses. 

Mon, 02/10/2014 - 11:17 | 4419815 Oldwood
Oldwood's picture

How does that differ all that much from any investment broker or manager. When these guys will put their money in beside mine, I might....might consider getting back in. Until then, fuck each and every last one. Commissions and consultants, always paid for their opinion good bad or otherwise.

Mon, 02/10/2014 - 11:14 | 4419805 Seasmoke
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Looks like a Tribe convention. 

Mon, 02/10/2014 - 11:16 | 4419813 buzzsaw99
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brought to you by carl's jr (zerohedge)

Mon, 02/10/2014 - 11:20 | 4419827 rsnoble
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Pray the likes of this scumbag die before transhumanism takes hold.  Of course plenty of uprising assholes to fill the void.  Ok scratch that, all of them need to die.

Mon, 02/10/2014 - 11:23 | 4419844 Budd aka Sidewinder
Budd aka Sidewinder's picture

Who does Georgy Schwarz consider family????

Theoretically anyone in the 12 tribes qualifies, right?  Enforce that SEC

Mon, 02/10/2014 - 11:26 | 4419854 syntaxterror
syntaxterror's picture

How's that 9% marginial tax rate working out for soros?

Mon, 02/10/2014 - 11:27 | 4419858 q99x2
q99x2's picture

Birinyi sees S&P at 1900 by July.

I hate Pittsburgh, PA in the winter. I'm not moving yet because the End is not Near (enough).

Goin out to photograph fish through the ice of frozen streams and lakes. If you buy Bitcoin low and sell high you too will not have to work and get to experience such joys.

Mon, 02/10/2014 - 11:29 | 4419863 HamRove
HamRove's picture

Is it too much to ask that he die of a heart attack on the toilet like a good little chubby dictator?

Mon, 02/10/2014 - 11:55 | 4419934 sarahsloverlance
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"Behind EVERY great fortune, there is a heinous crime". 



Mon, 02/10/2014 - 12:03 | 4419957 Quinvarius
Quinvarius's picture

When you have insiders at central banks making sure you are on the right side of trades, it isn't hard.  You only need a couple wins.  Soros is no genius.  He is a criminal that is part of a criminal insider trading ring at the highest levels.  That complete garbage about him breaking the pound makes me laugh.  Yeah.  He just happened to make a massive bet just before the British government devalued the pound by choice.  He had no knowledge of that or anything beforehand.  LOL.  Soros is a world class bag of shit.  And he can ram that spear of destiney right up his ass.  It isn't going to help him.

Mon, 02/10/2014 - 12:05 | 4419974 venturen
venturen's picture

easy to see why he backed Obama. Talk about the levers of power. The stupid liberal follow these money men hook line and sinker. Heck the voted for Corzine, Obama whose whole career are spent stealing from people. They don't build anything....they are the ultimate takers!

Mon, 02/10/2014 - 12:11 | 4419986 tradewithdave
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Hey... all that with a broken leg and while your jilted X is channeling her inner Gina Carano... not bad even though "Old Guys Rule!" has been displaced with Chatham House Rules!

Mon, 02/10/2014 - 12:14 | 4419993 walküre
walküre's picture

65 billion a month

10 billion to the Gods at Goldman, 10 billion to sweet lil' Jamie, 10 billion to shiti, 10 billion to Soros & friends, 10 billion to riff raff banks, 10 billion to keep the shit show "America" going and 5 billion to our brothers and sisters in need at the Fed

Mon, 02/10/2014 - 12:21 | 4420024 BrigstockBoy
BrigstockBoy's picture

Congratulations George, please die soon...

Mon, 02/10/2014 - 12:28 | 4420052 quasimodo
quasimodo's picture

How is it that these old codgers just linger?


and linger?


and linger?



Mon, 02/10/2014 - 12:44 | 4420110 Colonel Klink
Colonel Klink's picture

Because they have access to the blood of babies, the highest quality of healthcare, and food to stay alive.

Mon, 02/10/2014 - 12:39 | 4420098 Colonel Klink
Colonel Klink's picture

One of the most greedy and evil men in the world.

Mon, 02/10/2014 - 14:04 | 4420334 kralizec
kralizec's picture

Would look good perp-walked to the gallows...too bad we probably will never see it...

Mon, 02/10/2014 - 13:08 | 4420161 tony wilson
tony wilson's picture

correct me if i am wrong here but did this guy work in a concentration camp?

why is simon weesel institute or steven spielberg not after him?

Mon, 02/10/2014 - 14:26 | 4420427 tradewithdave
tradewithdave's picture

You are mistaking a "free house" with an "open house".  Happens to Realtors all the time.  "Free Society" does not equate to "Open Society" any more than Linux equates to RHT.  Chatham House Rules!  

Mon, 02/10/2014 - 13:38 | 4420185 kragsquest
kragsquest's picture

And at what cost?? Untold misery for countless millions.  I'm sure there will be an inverse relationship of money made and pleasure enjoyed in this life to what awaits people like Soros in the next life!  Satan and the underworld have been waiting eagerly for him a long time!  

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