Over at New York today you will find an excerpt of Kevin Roose’s new book, Young Money. The passage is an extended version of a story written by Roose for the Times, about a 2012 gathering of the members of a “secret Wall Street fraternity” called Kappa Beta Phi (which included Wilbur Ross, Ace Greenberg, and Robert Benmosche). Like college-age members of Greek organizations 30 and 40 years younger than the people assembled that night at the St. Regis, “Wall Street Kappas” initiate newbies (called “neophytes) with hazing, enthusiastically take part in cross-dressing, and are blissfully unaware of how embarrassed they should be for each other. In the extended version of the piece, we learn that the fraternity’s motto is “Dum vivamus edimus et biberimus” (Latin for “While we live, we eat and drink”); that private equity exec Paul Queally wrote and delivered this joke: Q: “What’s the biggest difference between Barney Frank and a Fenway Frank?” A: “Barney Frank comes in different-size buns; and that Fortress exec Mike Novogratz would have lifted Roose up by the tux lapels had his “brothers” not intervened. Read more »
Former Competitive Wrestler Turned Fortress Exec Mike Novogratz Stays In Fighting Shape By Using Reporters As Pieces Of Exercise EquipmentBy Bess Levin
His employees are heading for the door. His #1 Fan is nowhere to be found. His sales rep at Patagonia lost his number. But the brothers of the University of Pennsylvania chapter of Zeta Beta Tau have his back, and that’s gotta count for something. Read more »
Watch it on Academic Earth
Nice guys, but not too bright, according to Carl, who was addressing a bunch of Yale students via Webcam. He also talks about how he “made a few bucks playin’ pokah,” Princeton being a better school than Yale (but Yale still being “pretty good”), and the model and car he used to ride just after getting out of school. He seems to have some difficulty with the technology (he can’t hear all the questions in the Q&A and leans in very close and starts shouting at the screen at one point), and at times you think he’s going to tell the kids to take five so he can catch a few winks but there’s something mesmerizing about the whole thing (probably the accent) and I really just want him to be my grandfather.