Matt Levine, Columnist

Hedge-Fund Pay and Trader Lies

Also "21st century Glass-Steagall," blockchain Ponzis, proxy fights and embezzlement.

May 16, 2017 at 1:30 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Hedge-fund pay.

Institutional Investor's Alpha's annual "Rich List of the World's Top-Earning Hedge Fund Managers" is out today, and as usual the best-paid hedge-fund manager in 2016 was Warren Buffett, who made about $13.7 billion for the year. He earned it: His fund -- Berkshire Hathaway Inc. -- returned 23 percent in 2016, versus about a 12 percent total return for the S&P 500 index.