Wall Street’s 0.01%: The Guru Who Only Talks to Hedge-Fund Elite

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MachineGhost
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Wall Street’s 0.01%: The Guru Who Only Talks to Hedge-Fund Elite

Post by MachineGhost » Thu Sep 22, 2016 2:46 pm

Jens Nordvig, one of the hottest prognosticators in finance, will sell anyone his secret sauce for winning trades for $30,000 a year.

But if you want unfettered access to his best ideas and personal touch—the kind that the deep-pocketed hedge funds covet—be prepared to shell out about 20 times more.

That two-pronged approach to research, off-limits (at least officially) at Wall Street banks, captures one of the most striking shifts in finance today: the rise of a class system where entire businesses cater to only the highest-paying clients. Of course, haves and have-nots have long existed in the world of finance. But the widening gap within Wall Street itself, between what the privileged few and most others get, is creating a new financial elite—what amounts to the 1 percent of the 1 percent.

And if you’re not part of the 0.01 percent, the next best thing is to sell to it.

http://www.bloomberg.com/news/features/ ... fund-elite
"All generous minds have a horror of what are commonly called 'Facts'. They are the brute beasts of the intellectual domain." -- Thomas Hobbes

Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet.  I should not be considered as legally permitted to render such advice!
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