So, if you have a bad year, you just make an outrageous salary, instead of an outrageous salary and mind boggling bonus. Take this guy, for example. He makes a ton on stuff like C and SHLD, but when it drops later, he doesn't really lose, his clients do. And if it bounces back, he gets another bonus check.
Edward Lampert, the founder of ESL Investments and a member of the 2007 Alpha list, was absent this year. His fund fell 27 percent last year, according to Alpha. About 60 percent of ESL’s equity portfolio is invested in Sears, whose shares plunged 40 percent last year. ESL is also a major holder of Citigroup, whose abysmal performance matched that of Sears.
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