On The mean streets of Greenwich and the high towers of finance their was more then one Hedge Fund that came crumbling down. Welcome to Jimmy Cusacks world where money trumps friendship every time. CIA- stands for Catholic Irish Alcoholic, Cusack Capital went south for the winter and permanently and this is when Jimmy had to find another fund to join. The only issue was that this new Hedge Fund was not filling him in on their "Secret Sauce" The secret formula to their success or (how they hedge)? was something Cusack wanted to know. He had to prove himself as an apprentice first which meant rolling up his sleeves and getting dirty.
Norb Vonnegut wrote an interesting book, as an insider himself writing a fictional based financial thriller based in the harsh realities of the hedge fund life seemed like second nature for him. Harvard Business School combined with a stint at Morgan Stanley make him a natural at this. The first part of chapter 1 gives us an idea of their world- "The struggle to win clients never stopped, and the ethos was "kill or be killed" Among soldiers suited in the battle rattle of Armani pinstripes and Gucci loafers"Cusaks fund was inside of the Empire State Building, it didn't come crumbling down in Greenwich. His new fund however Leeser Capital was located in Greenwich just like many others. Instead of the House That Junk Built its more like The Houses that Greenwich built. Hedge Funds galore and a lot of money was being made. Vonnegut even made a reference to Amaranth and their massive and legendary 6.6 billion dollar implosion in 2006. He also mentioned SAC capital and Stevie Cohen many times in this book. The capital of Greenwich is Hedgistan, their is a reason why Green is part of Greenwich's name, because that is where all of the dough is made.
One issue is that many of the old timer old money Greenwich natives didn't like it very much when Hedgistan came to town. Oligarchs and Plutocrats ruled supreme and tore down many of the classic antique homes to build McMansions along the way. The Nouveau riche took away some of the town's old style character some might say. This is when the hedgies had to at least meet the old money Blue Bloods half way.
Norb Vonnegut wrote an interesting book, as an insider himself writing a fictional based financial thriller based in the harsh realities of the hedge fund life seemed like second nature for him. Harvard Business School combined with a stint at Morgan Stanley make him a natural at this. The first part of chapter 1 gives us an idea of their world- "The struggle to win clients never stopped, and the ethos was "kill or be killed" Among soldiers suited in the battle rattle of Armani pinstripes and Gucci loafers"Cusaks fund was inside of the Empire State Building, it didn't come crumbling down in Greenwich. His new fund however Leeser Capital was located in Greenwich just like many others. Instead of the House That Junk Built its more like The Houses that Greenwich built. Hedge Funds galore and a lot of money was being made. Vonnegut even made a reference to Amaranth and their massive and legendary 6.6 billion dollar implosion in 2006. He also mentioned SAC capital and Stevie Cohen many times in this book. The capital of Greenwich is Hedgistan, their is a reason why Green is part of Greenwich's name, because that is where all of the dough is made.
One issue is that many of the old timer old money Greenwich natives didn't like it very much when Hedgistan came to town. Oligarchs and Plutocrats ruled supreme and tore down many of the classic antique homes to build McMansions along the way. The Nouveau riche took away some of the town's old style character some might say. This is when the hedgies had to at least meet the old money Blue Bloods half way.
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