Last time we said hedge funds are losing their appeal compared to investment banks, we were castigated for coming to premature conclusions. Today, however, Man Group’s annual results contribute to the impression that hedge funds are lamer employers than they were.

In true bullish form, Man increased headcount dramatically when times were good, and now is trimming it just as fast. Between March and and December 2008 headcount rose 14% to a peak of 1,800; it’s now back down to 1,500. Compensation has plummeted too: average comp per head was $404k for the 12 months to March 2008, and $294k for the 12 months to March 2009.

Man says hedge fund investors are returning. (Telegraph)

The best European hedge funds. (Pragmatic Capitalist)

Pequot Capital closing due to insider trading probe. (Reuters)

Pequot were the Microsoft of hedgies. (Fintag)

Jamie Dimon warns of competition from ‘smart rivals’ bearing guaranteed bonuses. (Financial News)

Layoffs at BarCap in the US. (Dealbreaker)

Grübel says the debate about salaries is getting emotional. (The Times)

Median income earners in the UK are on 20k. (Financial Times)

How social media can juice your career. (MarketWatch)

Britain’s stress-tests presumed a peak-to-trough fall in GDP of over 6 per cent, unemployment at just over 12 per cent and a 50 per cent peak-to-trough fall in house prices. (Alphaville)

“I am 100 percent sure that the U.S. will go into hyperinflation.” (Lolfed)

Americans work up to three months a year more than Europeans. (Psychology Today)