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AI market round-up: Bling bling! – how managers blow their money

According to a survey conducted by market research firm Prince & Associates, in conjunction with Marhedge, the average personal spending habits in 2005 of hedge fund managers with a net worth of more than $30 million were as follows:

  • Fine art: $3.99 million

  • Yacht charters: $429,700

  • Jewellery: $376,400

  • Hotels & resorts: $304,900

  • Watches: $271,300

  • Fashion and accessories: $204,200

  • Traditional spa services: $124,000

  • Electronics: $99,300

  • Entertaining friends: $76,700

  • Wine & spirits for the home: $48,900

Managers are not just indulging themselves, though. The average manager donated almost $2 million in personal money to charity, and 70% of those surveyed said that they had dedicated time to one or more non-profit ventures. All results are published in the book Fortune’s fortress: a primer on wealth preservation for hedge fund professionals.

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