"MBAs idealize jobs and ideas that used to offer outstanding returns. Private Equity and Hedge Funds offered outstanding salaries to HBS students from 06-08 and thus attracted “top” HBS students. As more talented students pursued these options it became conventional wisdom that everyone should be doing the same."
From an article today (http://money.cnn.com/2010/04/01/markets/hedge_fund_manager_p...):
"After plunging during the financial crisis, the income of top hedge fund managers surged in 2009 to a record high as financial markets recovered from historic lows, according to a new survey published Thursday.
Altogether, the 25 top-earning hedge fund managers made a record $25.3 billion last year, according to rankings in AR: Absolute Return+Alpha, a magazine dedicated to the hedge fund industry.
The highest paid manager on the list was David Tepper of Appaloosa Management, who made $4 billion last year on investments in the financial sector."
From an article today (http://money.cnn.com/2010/04/01/markets/hedge_fund_manager_p...): "After plunging during the financial crisis, the income of top hedge fund managers surged in 2009 to a record high as financial markets recovered from historic lows, according to a new survey published Thursday.
Altogether, the 25 top-earning hedge fund managers made a record $25.3 billion last year, according to rankings in AR: Absolute Return+Alpha, a magazine dedicated to the hedge fund industry.
The highest paid manager on the list was David Tepper of Appaloosa Management, who made $4 billion last year on investments in the financial sector."
David Tepper isn't just an MBA, he has a business school named after him: http://web.tepper.cmu.edu/tepper/about.aspx
I think he'd get a good laugh out of this article.