贏家

????杰森?莫德里克

????莫德里克資本管理公司

????哈佛法學(xué)院高材生莫德里克曾在Contrarian Capital Management資本管理公司從事不良股票交易。2009年他建立了自己的基金——一支小型基金，目前資產(chǎn)管理規(guī)模2億美元——迄今表現(xiàn)不錯(cuò)。莫德里克曾購(gòu)買(mǎi)美國(guó)中小企業(yè)商貸機(jī)構(gòu)CIT大筆債務(wù)，后來(lái)CIT走出了破產(chǎn)保護(hù)申請(qǐng)（Chapter 11）的陰影，為該基金帶來(lái)200%的回報(bào)率。今年，他購(gòu)入廣告公司SuperMedia（前身是Idearc），2010年走出破產(chǎn)保護(hù)，給他帶來(lái)了50%的回報(bào)率。消息人士稱，盡管今年大多數(shù)基金都損失慘重，但Mudrick Capital自年初以來(lái)一直持平。

????普拉卡什?納拉亞南

????薩巴資產(chǎn)管理公司

????前德意志銀行（Deutsche Bank）交易員納拉亞南，掌管著博阿茲?魏因斯坦47億美元的薩巴資本（Saba Capital）倫敦辦公室，專注于交易歐洲信貸產(chǎn)品?！白詮乃用撕螅驹跉W洲市場(chǎng)上變得活躍多了，” 魏因斯坦稱。納拉亞南的真知灼見(jiàn)（最近，他同意大利銀行進(jìn)行了一項(xiàng)高利潤(rùn)率的交易）幫助薩巴笑傲同儕。該基金年初以來(lái)上漲了9%。

業(yè)績(jī)下滑，但尚未出局

????沙赫拉巴?艾哈邁德

????Hutchin Hill Capital資本公司

????這支20億美元的基金目前下跌了3%，主要是因?yàn)橹貍}(cāng)股票。但該基金2008-2010年的高回報(bào)率部分要?dú)w功于艾哈邁德，他是這支基金一位卓越的信用產(chǎn)品交易員，但他在2011年卻不得不周旋于歐債漩渦中。一位接近Hutchin Hill的消息人士稱，艾哈邁德的“才干堪比著名對(duì)沖基金SAC的斯蒂夫?科恩。他思維敏捷，反應(yīng)迅速。他的盈利建立在成百上千個(gè)小勝利的基礎(chǔ)上?！苯衲甑囊恍┬倮ㄐ庞煤秃暧^策略交易。

????克里斯?皮亞

????皮亞資本管理公司

????大宗商品交易員皮亞曾在路易斯?貝肯旗下的摩爾資本管理公司（Moore Capital）管理13億美元資產(chǎn)，但他后來(lái)建立了自己的基金，專注于金屬交易。皮亞看漲黃金，今年3月他正確地預(yù)測(cè)了9月底之前金價(jià)將達(dá)到每盎司1,900美元。然而，由于持有的板塊股票，如靜水礦業(yè)（Stillwater Mining）等表現(xiàn)滯后，皮亞資本管理公司（Pia Capital）今年下跌了14%，但這是這支基金第一年出現(xiàn)下跌。2012年，皮亞計(jì)劃縮減股票交易，回歸大宗商品。

年度最差

????奎庫(kù)?阿多博利

????瑞銀

????涉嫌進(jìn)行未授權(quán)交易、偽造文件的瑞銀（UBS）交易員阿多博利稱，自己的行為是“災(zāi)難性的誤判”。你覺(jué)得呢？這讓瑞銀付出了25億美元的代價(jià)，間接導(dǎo)致首席執(zhí)行官郭儒博下臺(tái)，阿多博利自己則躋身流氓交易員黑名單。

WINNERS

????Jason Mudrick

????Mudrick Capital Management

????Harvard Law grad Mudrick was previously at Contrarian Capital Management, where he traded distressed equities. He launched his own fund -- small, it currently has $200 million under management -- in 2009, and it's done well so far. Mudrick bought a large stake in CIT (CIT) debt, which rallied from Chapter 11 and generated a 200% return for the fund. This year he traded into SuperMedia (SPMD), an advertising company formerly called Idearc, which came out of bankruptcy in 2010 and made him a 50% return. Sources say Mudrick Capital is flat year-to-date, during a brutal year for most funds.

????Prakash Narayanan

????Saba Capital Management

????Former Deutsche Bank trader Narayanan runs the London office for Boaz Weinstein's $4.7 billion Saba Capital and focuses on trading European credit. "Since he joined, the firm has become much more active in the European markets," says Weinstein. Narayanan's insights (most recently, he established a highly profitable yield-curve trade in Italian banks) helped Saba outperform the industry. The fund is up 9% YTD.

DOWN, NOT OUT

????Shahraab Ahmad

????Hutchin Hill Capital

????The $2 billion fund is down 3%, mostly because of large equity positions. But its great returns from 2008 to 2010 were thanks in part to Ahmad, the fund's exceptional credit trader, who in 2011 had to navigate the volatility in Europe. A source close to Hutchin Hill says Ahmad is "a trader I liken to [SAC's] Steve Cohen in terms of talent. He's fast and registers changes quickly. His P&L is hundreds of small wins." Some of those wins this year were trades in credit and macro strategy.

????Chris Pia

????Pia Capital Management

????Commodities trader Pia used to manage $1.3 billion at Louis Bacon's Moore Capital, but he launched his own fund and has maintained his focus on metals. Pia is bullish on gold, and in March he correctly predicted it would hit $1,900 an ounce by September. Pia Capital is down 14% this year because sector stock picks like Stillwater Mining (SWC) lagged, but this is its first down year. For 2012, Pia plans to scale back his equities trading and return to commodities.

UNDERSTATEMENT OF THE YEAR

????Kweku Adoboli

????UBS

????Adoboli, who allegedly made unauthorized trades and faked documents at UBS (UBS), called his actions "disastrous miscalculations." Ya think? They cost the bank $2.5 billion, contributed to the ouster of CEO Oswald Gruebel, and put Adoboli on the list of rogue trader all-stars.