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S
ebastian Mallaby’s history of hedge funds, published in 2010, had the provocative title More Money than God.
Mallaby recounts how one hedge fund boss had his $50m private jet fitted with a crib for his baby, how another put transmitters on the turtles that lived on his private island so he could monitor their mating habits, and how a third had the roof of his private movie theatre decorated with the pattern of the stars on his wedding night 16 years earlier.
Such conspicuous consumption, doubtless, helps to explain why so many have taken such pleasure at seeing these financial titans put to the sword by a motley bunch of day-trading Redditors.
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