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5. John Paulson: Paulson & Co. $30 billion under management.

4. Bill Ackman: Pershing Square Capital Management oversees about $9 billion.

3. Mark Spitznagel: Universa Investments

2. David Einhorn: Greenlight Capital

1. Jim Chanos: Kynikos Associates


SOURCE: 5 hedge-fund managers to watch in 2012