The 40 year-old hedge fund managers who feel old and decrepit

Posted by PSR_AXP 12 days ago
If you're in your 20s and you're moving into a hedge fund, spare a thought for the gnarly portfolio managers above you. They may be only 40 or 45, but they feel ancient.
So says Professor Kathleen Riach at the Adam Smith Business School at Glasgow University in the UK. In the ten years to 2021, Riach interviewed 50 employees at a London hedge fund, focusing particularly on 13 men and seven women aged between 35 and 45 at the first interview. Results to the study have just been released in a new book.*
Instead of a group of high earners at the top of their games, Riach found a cohort of people hyper-conscious of their own mortality , who felt superannuated by the younger people coming up behind them.
Exhaustion was a factor. Years of overwork and alcohol-fueled lifestyles were taking their toll. "I used to work 12-hour days and sleep all weekend when I first started working. And now I work 12-hour days, have a massive commute and don’t get to sleep at all on the weekends," one portfolio manager (PM) told Riach.

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