Nov

14

Hedge Manager Is Almost Famous
By LANDON THOMAS Jr.
Published: November 14, 2006

Managers of billion-dollar hedge funds do not usually drive Hondas — except at Goldman Sachs, that is. Traders at Wall Street investment banks are now priming themselves for another big bonus haul this year. And Raanan A. Agus, the manager of one of Goldman's largest internal hedge funds, and the owner of a Honda minivan, will be in line for one of the richer paydays.

This puffpiece on a Goldman trader in today's New York Times lacks a discernable "news peg". Anyone have a theory as to why the agenda-driven broadsheet would run a story like this?

Gregory van Kipnis replies:

NYT does human interest stories, usually about the downtrodden. However, perhaps the angle is that there have been so many stories about hedgefund types who live rich, conspicuous (and sometimes dishonest) lives they (Goldman Sachs) felt it is time to show a counterexample to minimize public backlash.

Eliza Bethan adds:

There is a new TV soap-opera/series that will stereotype hedgefund managers. Among the images to be broadcast are self-praising or youthful managers with advanced degrees, arrogance in winning at all costs, overcoming defeats and obstacles, and of course media stardom, all with a lack of humility and humor…


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