Fortune says the new status symbol for hedge funds is a massive aquarium**:
City Aquarium, which he founded in 1999, now has a client roster that includes sultans, supermodels, Russian heiresses, Broadway producers, and an increasing number of hedge funds like SAC Capital Advisors and Sandell Asset Management (both declined to comment on their expensive toys). "Aquariums are status symbols," says [City Aquarium owner] Muir, who has also designed aquariums for hedge fund managers' homes. "These guys say, 'Okay, if we are going to do [an aquarium], it has to be hot.' " So what's the hottest thing right now in hedgie tanks? Sharks, natch. The price: around $2,000 each.
When we hear "shark tank" and "SAC" in the same sentence, we either think, "metaphor," or this, which Stevie Cohen bought for $12 million:
Does that count as an aquarium?
**One vendor in New York = trend.
Latest Status Symbol: $600,000 Aquarium [CNNMoney/Fortune]