May 24th, 2007, 4:54 pm
QuoteTM 100 Profiles 21-30: William Browder You needed to have made $50 million in 2006 just to gain admission to this list. You needed $1 billion in annual comp to crack the Top 5. Behold capitalisms ultimate honor roll the fourth annual Trader Monthly 100April 2007 William Browder City: London/Moscow Firm: Hermitage Capital Management Age: 42 With the bulk of Hermitages roughly $4 billion riding on Russian energy bets think for a moment of the sheer terror involved in combining that much capital with commodities inherent volatility and one of the worlds most unpredictable emerging markets Browder gets our vote as the nerviest trader on this list. Chicago-reared and Stanford-educated, Browder went from running proprietary Russian investments for Salomon Brothers to trading his own $25 million book under the late financier Edmond Safra. Together, the two launched Hermitage in 1996. Despite falling oil prices and a rough patch in May, in the end Browders portfolio registered a roughly 38 percent gain on various long-term bets on the former USSR; that came on the heels of an 82 percent return in 2005. Though Browder has strong familial ties to Russia (his grandfather Earl once headed the U.S. Communist party), his heritage doesnt explain his success that comes from his conviction that volatile, dangerous markets will always be undervalued by those who fear them, and therefore ripe for profit. Hermitages average annualized track record since inception is a silly 36 percent. Grandpa Earl must be spinning in his proletarian grave. Estimated Income: $250$300 million Eat your heart out just about everyone I can possibly think of .