I sometimes live on Fantasy Island
I dream about the big house on the beach, the mansion in the woods, the Rolls Royce in the driveway......
(I was going to use BMW, but that doesn't work anymore.)
I admit I envy people with money. I wish I had more money. I fantasize about buying whatever I want.
I also admit, I have no idea what a hedge fund is, or what a hedge fund manager is.
In my idiotic thinking, a hedge fund is money you put aside to trim the hedges. And a manager is the guy who trims them.
A new residential building is opening in downtown Chicago. Condos. 70 of them. Mostly sold.
One guy bought the penthouse unit for over $27 million. He, founded a hedge fund years ago. I'm sure the penthouse has great views and wonderful amenities.
And he must have liked the location, because he also bought the entire 37th floor for $12.5 million. And the 36th floor for $12.1 million. And the 35th floor for $12.5 million.
Let's see....add the ones, carry the tens, factor in a bite of chocolate pie and the total purchase price was $58.75 million.
According to the article, he likes Chicago and the location. Of course, he also has a full story in the Waldorf Astoria ($13 million), top two floors of the Park Tower ($21 million), the top three floors of a midtown New York condo ($200 million) and homes in Aspen, Hawaii, and Palm Beach, FL.
I don't know what a hedge fund is.......but if I had a kid, that is where I'd steer their career starting with a lawn mowing business at age 8.
I just hope his view won't be spoiled by any of the thousands of homeless people living on the streets below his $57 million property.
I know I sound bitter.......but sometimes our system sucks.
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