How Do Hedge Fund Managers Justify Their Existence?
Current Affairs24 Feb 2022

How Do Hedge Fund Managers Justify Their Existence?

Megan Tobias Neely is a sociologist whose book Hedged Out: Inequality and Insecurity on Wall Street takes a deep look inside the world of hedge funds, those small boutique investment banks that play with a sizable chunk of the world's wealth. Neely's book draws on her observations from time working in a hedge fund as well as from dozens of interviews with professionals in the industry. In this conversation, we discuss:

- How hedge fund managers justify their value to society and why there are reasons to doubt them

- The internal culture of firms and how they resemble feudal kingdoms

- Popular myths, such as the idea that the "only thing that matters is whether you make money for investors" and "the firm is horizontal and non-hierarchical"

- How people with degrees in astrophysics and artificial intelligence find themselves using their skills to make money for rich people rather than doing what they love

- How super-wealthy men convince themselves that their decisions are based on objective reason when they are often based in stereotypes and prejudice

- How a savvy actor with access to capital can actually take advantage of these blind spots through "perception arbitrage"

The Bloomberg article by Matt Levine that Nathan cites is here. The review of Ray Dalio's Principles is here.

Avsnitt(600)

How the Cold War Changed Everything (w/ Daniel Bessner)

How the Cold War Changed Everything (w/ Daniel Bessner)

🦩 Use the code "15OFF" for a discount on Current Affairs: https://www.currentaffairs.org/membership Daniel Bessner is a historian and professor at the University of Washington’s Henry M. Jackson Scho...

28 Feb 45min

The Left is Always Right Too Early

The Left is Always Right Too Early

🦩 Use the code "15OFF" for a discount on Current Affairs: https://www.currentaffairs.org/membership  From slavery and child labor in the 19th century to the Iraq War and Gaza, the Left position has b...

25 Feb 18min

Current Affairs News Briefing ❧ February 20, 2026

Current Affairs News Briefing ❧ February 20, 2026

A convoy to Cuba, Grok doxxes a sex worker,  Mamdani cuts the library, Pakistan has really fast jets, MGP declares war on sea lions, Andrew is arrested, and bugs are more popular than Trump. 📰 SUBSCR...

21 Feb 7min

Abigail Thorn of Philosophy Tube on Parasocial Relationships

Abigail Thorn of Philosophy Tube on Parasocial Relationships

Abigail Thorn is an actor, writer, and the creator of the widely acclaimed YouTube channel Philosophy Tube, where she explores politics, culture, and philosophy through performance and storytelling. S...

6 Feb 29min

Why Conservatives Hate the Government But Love the Cops

Why Conservatives Hate the Government But Love the Cops

🦩 Use the code "15OFF" for a discount on Current Affairs: https://www.currentaffairs.org/membership The core right-wing principle is a belief in hierarchy, not the limitation of state power. 🐍 Read ...

4 Feb 8min

How the Right Abuses Tolkien

How the Right Abuses Tolkien

🦩 Use the code "15OFF" for a discount on Current Affairs: https://www.currentaffairs.org/membershipFor Peter Thiel, JD Vance, and other figures on today’s far right, the works of J.R.R. Tolkien have ...

30 Jan 28min

Current Affairs News Briefing ❧ January 28, 2026

Current Affairs News Briefing ❧ January 28, 2026

EPA to stop animal testing, Palestinians go on general strike, Ye apologizes for his Nazism again, TikTok claims apparent censorship was caused by a power outage, and the government repeals workplace ...

29 Jan 4min

Ro Khanna: “Newsom Doesn’t Want to Offend the Donor Class”

Ro Khanna: “Newsom Doesn’t Want to Offend the Donor Class”

Ro Khanna is the U.S. representative for California’s 17th Congressional district, more commonly known as “Silicon Valley.” He was a co-chair of Bernie Sanders’ presidential campaign in 2020, and ther...

24 Jan 40min

Populärt inom Komedi

mellan-himmel-och-jord-med-jlc
alex-sigges-podcast
den-som-skrattar-forlorar-podcast-2
ursakta
hogt-i-tak-2
filip-fredrik-svarar
gynning-berg
alla-andra-kan-ga-hem
jocke-jonna-sanningen-maste-fram
skaringer-nessvold
alla-goda-ting-ar-tre
rss-vafalls
hor-har
killradet
mardromsgasten
rss-vastgotapodden
wahlgren-wistam
flashback-forever
rss-alla-goda-ting-ar-tre
bygga-at-idioter