Lunchtime Links: If hedge fund managers are so rich, why are they so far down the Rich List?

Successful hedge fund managers are evidently incredibly wealthy, but lest anyone draw the conclusion that hedge funds are the most lucrative business to go into, the Times' Rich List suggests otherwise.

Information on the UK's richest hedge fund managers, derived from the Times' Rich List, but published in The Telegraph, shows that the best off hedgie (Louis Bacon of Moore Capital, with 650m), is only the UK's 49th richest person. Paul Marshall and Ian Wace rank joint 229th.

The full list hasn't been published yet, so it's not clear who beat Bacon to positions 1-49. However, the 2009 Rich List suggests Britain's wealthiest people are more likely to be involved in steel, property, and retailing, than finance. Predictably, it also helps to have inherited a lot of land.

Singapore may be about to make itself less attractive to very, very small hedge funds. (Bloomberg)

"As soon as you set a restructuring template for stressed Sovereigns then you run a huge risk of a Lehman-type event." (Alphaville)

US is creeping towards a finance bill. (BusinessWeek)

Dear Mr President: Think like a trader. (Wall Street Journal)

The amount of derivatives being centrally cleared can "easily double" in the next two years. (Financial Times)

Jamie Dimon said JP Morgan could lose up to $2bn in revenues if derivatives were forced to be traded on an exchange. (Financial Times)

Goldman may be wishing it never hired Tetsuya Ishikawa. (Telegraph)

Why Goldman will settle. (The Daily Beast)

Lawyers say Goldman should cut its losses and settle. (Bloomberg)

The big boy defence. (Bloomberg)

The bond market will never be the same again after Goldman. (Michael Lewis on Bloomberg)

Simon Whittock, a 'top equity salesman,' has left BofA Merrill. (Financial News)

The FAT tax would need to be 6% to pay back the bailouts. (Financial Times)

Hot girls still love Wall Street. (Wall Street Journal)

You do not need teeth to be very rich. (Yahoo)