Managing money is not an easy option. My friend Entrepreneur Eddie recently regaled me with an unedifying tale. He was forced to harangue a top bank chief about the pathetic underperformance of his portfolio. Eddie thundered: “I told him, I didn’t give you my hard-earned wealth just to stand still.” When it comes to our own money, most of us are super-demanding. We turn from amiable acquaintances into snarling fiends. If we are paying a hedge fund manager the dreaded 2 and 20, we expect dazzling returns. So I’ve often wondered if hedgies take summer holidays. Or do they sweat it out in the office manacled to their Bloomberg screens?
Abigail Hofman,
August 03, 2006