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Introduction

Published online by Cambridge University Press:  11 September 2020

JC de Swaan
Affiliation:
Princeton University, New Jersey
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Summary

Working at a successful hedge fund bestows upon members of the team not only attractive compensation but often a stream of perks from brokers eager to sway trading business their way: dinners in high-end restaurants, open bar tabs, and the occasional round of golf or outing at sought-after sporting events. Not so at Watermark Group, a long-standing Princeton-based hedge fund. When an investment analyst broke an internal rule against broker favors by accepting US Open tickets from Lehman Brothers, co-founder Andy Okun insisted that the analyst pay back not simply the ticket’s face value, but its (much greater) scalp value. It took months of prodding for Lehman to cash the check.1

Type
Chapter
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Seeking Virtue in Finance
Contributing to Society in a Conflicted Industry
, pp. 1 - 24
Publisher: Cambridge University Press
Print publication year: 2020

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  • Introduction
  • JC de Swaan, Princeton University, New Jersey
  • Book: Seeking Virtue in Finance
  • Online publication: 11 September 2020
  • Chapter DOI: https://doi.org/10.1017/9781108561815.002
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Send book to Dropbox

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  • Introduction
  • JC de Swaan, Princeton University, New Jersey
  • Book: Seeking Virtue in Finance
  • Online publication: 11 September 2020
  • Chapter DOI: https://doi.org/10.1017/9781108561815.002
Available formats
×

Send book to Google Drive

To send content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about sending content to Google Drive.

  • Introduction
  • JC de Swaan, Princeton University, New Jersey
  • Book: Seeking Virtue in Finance
  • Online publication: 11 September 2020
  • Chapter DOI: https://doi.org/10.1017/9781108561815.002
Available formats
×