NY Times via Greg Mankiw:
The top 25 hedge fund managers reaped $11.62 billion in compensation in 2014, according to an annual rankingpublished on Tuesday by Institutional Investor’s Alpha magazine.
That collective payday came even as hedge funds, once high-octane money makers, returned on average low-single digits. In comparison, the benchmark Standard & Poor’s 500-stock index posted a gain of 13.68 percent last year when reinvested dividends were included....
For investors, 2014 was the sixth consecutive year that hedge funds have fallen short of stock market performance, returning only 3 percent on average.
