"Riding high on the bank bailout, hedge fund managers posted record paydays in 2009, according to an annual survey by AR: Absolute Return +Alpha magazine.
Leading the pack, David Tepper of Appaloosa Management made $4 billion, in part by betting successfully that the government would bail out the big banks. John Paulson, of Paulson & Company, made $2.3 billion by buying back bank stocks he shorted in 2008. And a year after his fund received $200 million in the bailout of the American International Group, Kenneth Griffin of the Citadel Investment Group made $900 million..."
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