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2008's Big Hedge Fund Losers

Here's a list of some of the biggest hedge fund losers of 2008, as compiled by Alpha, a magazine for institutional investors. Read 'em and weep. Or cheer. Your call:

1. Kenneth Griffin, Citadel Investment Group. Lost $2 billion. Its two biggest funds were down 55 percent each.

2. Edward Lampert, ESL Partners: Lost $1 billion, partly thanks to Sears losses.

3. Steven Cohen, SAC Capital Advisors: Lost $750 million.

4. Jeffrey Gendell, Tontine Partners: Lost $625 million. Hurt by illiquidity in smaller holdings.

5. Stephen Mandell Jr., Lone Pine Capital: Lost $550 million. Heavy overseas losses.

6. T. Boone Pickens Jr., BP Capital MGMT: Lost $450 million. The best known of the lot by the general public, the water-and-wind advocate had a terrible 2008.

7. David Tepper, Appaloosa mgmt: Lost $425 million.

8. Carl Icahn, Icahn Enterprises: Lost $400 million. The activist investor held a lot of Yahoo and Motorola stock.

Here's Alpha's list of the top 25 highest-earning hedge fund managers. It includes Democratic activist George Soros and Christian Baha, of the "inwestor" Superfund TV commercials.

-- Frank Ahrens
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By Frank Ahrens  |  March 26, 2009; 2:23 PM ET
Categories:  The Ticker  | Tags: Carl Icahn, T. Boone Pickens, hedge funds  
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