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