Lo res photo of hi net worth individuals

By wpcomimportuser1 | May 22, 2007 | +

Another in my continuing series of really low-quality cameraphone photos of book parties, this time from the hoedown for Peter Bernstein’s Capital Ideas Evolving at the Mercedes dealership on Park Avenue Monday night. I took the photo from out on the sidewalk. Inside were a bunch of people who make a whole lot more money than I do (although apparently less than the “average hedge fund manager“). Goldman Sachs big quant Bob Litterman and hedge fund manager Cliff Asness are chatting at the center of the photo. Not that you could tell.

The book is really good, albeit aimed at a more rarified readership than Against the Gods or Wedding of the Waters. I’m about halfway through, and will report when I’m done.

And maybe one of these times I’ll bring along an actual camera.

Related Topics: Economy & Policy

@TIMEBusiness

Latest on Business

Facebook May 16, 2012

Facebook Insiders Are Cashing Out Their Stakes Before IPO

NEW YORK (AP) — Insiders and early Facebook investors are taking advantage of increasing investor demand and selling more of their stock in the company’s initial public offering, the company said Wednesday.

Facebook said in a regulatory filing that 84 million shares, worth up to $3.2 billion, are being added to what’s shaping up to be the decade’s hottest IPO.
From our Partners
America’s War on TouristsSlate

War of the Roses: Mother's Day Bouquet Is an Economic and Political BattlefieldDaily Finance
Half Of Recent College Graduates Lack Full-Time Job, Study SaysHuff Post Business
Facebook May 16, 2012

Facebook IPO: What You Need To Know Now

[The article was updated at 12:20 pm on 5/16/12.]

Prom night is almost here for Facebook and its suitors. Here’s a program to the biggest high technology initial public offering ever, and what you should know:

Chuck

“But the “average hedge fund manager” makes an awful lot less.”

I’d be curious to know the wage of the average hedge fund manager. Probably it would be good to know the median as well, since the average will likely be skewed by the big winners.

Suppose that the average hedge fund manager makes only 1% of what the average of the top 26 do, that would still be $5.7 million. Wow, those little-guy hedge fund managers are really getting hosed.

Honestly makes me a fan of the maximum wage. It is my belief that no human being could possibly merit the resources represented by, say, $100 million dollars. Forget about $1 billion.
Justin Fox

There’s really no way to tell what the average hedge fund manager makes (until the Hedge Fund Remuneration Disclosure Act of 2008 is enacted, of course). Giving that pretty much anybody can call himself a hedge fund manager, I would think the median is well below $1 million, but how the heck would I know?