04/26/2009 05:12 am ET Updated May 25, 2011

Alpha's Hedge Fund Losers: Magazine Lists 8 Worst Performers

Alpha magazine has published a list of the worst performing hedge fund managers in 2008.

The group of eight lost a combined $6.2 billion in personal wealth last year, after earning more than $3 billion in 2007.

Topping the list is Kenneth Griffin of Citadel Investment Group, who lost $2 billion in 2008 after earning $1.5 billion in 2007.

Edward Lampert of ESL Partners came in second, with a $1 billion loss in 2008 after earning $1.1 billion in 2007.

Steven Cohen of SAC Capital Advisors was third, with a $750 million loss in 2008, which followed a $900 million boon in 2007.

Jeffrey Gendell of Tontine Partners took the number four spot by losing $625 million last year after gaining $190 million the prior year.

Stephen Mandell Jr. of Lone Pine Capital was next up, with a $550 million loss following his $710 million gain in 2007.

Energy magnate T. Boone Pickens Jr. and his BP Capital MGMT lost $450 million after earning $370 million the prior year.

David Tepper of Appaloosa mgmt was number seven with a $425 million following his $350 million gain, and last on the list was activist investor Carl Icahn, whose Icahn Enterprises lost $400 million in 2008 after earning $300 million in 2007.