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A former hedge fund worker takes an ethnographic approach to Wall Street to expose who wins, who loses, and why inequality endures.   Who do you think of when you imagine a hedge fund manager? A greedy fraudster, a visionary entrepreneur, a wolf of Wall Street? These tropes capture the public imagination of a successful hedge fund manager. But behind the designer suits, helicopter commutes, and illicit pursuits are the everyday stories of people who work in the hedge fund industry--many of whom don't realize they fall within the 1 percent that drives the divide between the richest and the rest. With Hedged Out, sociologist and former hedge fund analyst Megan Tobias Neely gives readers an outsider's insider perspective on Wall Street and its enduring culture of inequality.   Hedged Out dives into the upper echelons of Wall Street, where elite white masculinity is the standard measure for the capacity to manage risk and insecurity. Facing an unpredictable and risky stock market, hedge fund workers protect their interests by working long hours and building tight-knit networks with people who look and behave like them. Using ethnographic vignettes and her own industry experience, Neely showcases the voices of managers and other workers to illustrate how this industry of politically mobilized elites excludes people on the basis of race, class, and gender. Neely shows how this system of elite power and privilege not only sustains itself but builds over time as the beneficiaries concentrate their resources. Hedged Out explains why the hedge fund industry generates extreme wealth, why mostly white men benefit, and why reforming Wall Street will create a more equal society.

Equality --- Hedge funds --- Investment advisors --- Securities industry --- BUSINESS & ECONOMICS / Economic History. --- Economic aspects --- Social conditions. --- Social aspects --- Financial services industry --- Fund managers (Investment advisors) --- Investment advisers --- Investment counselors --- Investment houses (Investment advisors) --- Investment management firms --- Money managers (Investment advisors) --- Consultants --- Financial planners --- Egalitarianism --- Inequality --- Social equality --- Social inequality --- Political science --- Sociology --- Democracy --- Liberty --- Investment advisors - United States - Social conditions. --- Securities industry - Social aspects - United States. --- Hedge funds - United States. --- Equality - Economic aspects - United States. --- books about wall street. --- c suite. --- class privilege. --- economic inequality. --- executive. --- finance capitalism. --- gender. --- hedge fund workers. --- managers. --- race. --- salary. --- sociology. --- wages. --- white masculinity.