A down year for hedge fund managers

In 2013 the top 25 hedge fund managers earned $21.15 billion, or an average of about $840,000,000. In 2014 they only made $11.62 billion, or an average of about $460,000,000. This despite having returns averaging in the single digits, while the S&P 500 gained 13.68% last year when reinvested dividends were included. This was the sixth year in a row that hedge funds have fallen short of stock market performance, returning only 3 percent on average.