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Opinion

Talkin’ ’bout my wealth g-generation

“Enter the scotch-drinking, table-dancing, back-stabbing world of stocks and bonds.”

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No, it’s not a recruitment ad directed at aspiring business graduates but publicity for a new off-Broadway comedy about, of all things, hedge fund managers.

Burleigh Grime$ (see picture) opened in June and tells the story of a Wall Street apprentice working under a manipulative and calculating mentor, Mr Grimes. The slightly hammed-up production’s story line is a little unbelievable – the NYT critic slammed it as “long on ludicrous plot and short on fresh humor” – but its slogan, “sex, money and rock ’n’ roll”, seems to sum up the hedge fund community pretty well these days.

Last month was particularly busy for managers intent on mixing business and pleasure. Hundreds of them rocked out at Albourne Partners’ Hedgestock for two days in Knebworth Park, 30 miles north of London. Veteran band The Who topped the bill at the 1960s-styled festival-cum-networking event. The only complaint heard from those who attended was that the sun was too fierce. But that made JPMorgan marketers happy – their exhibition-stand freebies were sunhats featuring the bank’s logo.

One week later, 4,000 members of the New York City hedge fund community were treated to a special performance by diva Beyoncé at a charity gig for the Robin Hood Foundation, raising $48 million to combat poverty in the city.

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