Period piece from Tom Wolfe circa 2007

I just stumbled across this article written by Tom Wolfe for Portfolio Magazine’s May 2007 issue.It’s a snapshot of hedge funders as they were less than two years ago: attaching $100,000 checks to their kid’s Country Day admissions application, being snubbed by the boards of Greenwich Hospital and the Boys and Girls Club (Bruce Museum has no such prejudice against new money so you’ll find the disconsolate dears there, trying to pretend that their money is just as good as anybody else’s) and in general being rude, obnoxious souls accompanied by wives who are even worse. I don’t think Tom Wolfe likes them.

But if they even still exist, will they still be here two years from now? And if not, who and what will take their place? Nature and high society both abhor vacuums – it will be fascinating to see what fills the void this class’s disappearance will create.


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3 responses to “Period piece from Tom Wolfe circa 2007

  1. FA Bourke

    Tom Wolfe would have a field day with this other Round Hill Clubber. Trial coming in June. Stay tuned. This story will put Noel on your back burner for a while.

  2. pulled up in OG

    From further down in that blog . . .

    “We’re thankful for . . . These words spoken by Robert F. Kennedy in March 1968: Yet the gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country. It measures everything, in short, except that which makes life worthwhile.”

    Same goes for the median price of real estate in Greenwich.

  3. anonymous

    Lots of PE titans from ’80s LBO era are still around; made a few bucks in this most recent Bubble; and are still billionaires…recall media nonsense of early ’90s writing off the PE guys (called “LBO guys” or “raiders/greenmailers” back then) post-Milken, blah-blah….Kravis, Leon Black, et al haven’t left the scene

    Suspect smartest HF titans will be similarly long-lasting; most hedgies are 10+ yrs younger than PE counterparts; some only have recently turned 40; some are still <40yo….PE guys are more Manhattan-centric and HF guys are more evenly divided btwn Manhattan and Greenwich