||Bateman is ready to
take 20% off the top.
As members of the Wall Street elite and the
much-derided 1%, hedge fund managers contend with no small
amount of bad publicity, but they have never been connected
with serial killers—until now.
Patrick Bateman, the fictional 1980s-era yuppie
investment banker who moonlights as a mass murderer and was
famously portrayed by Christian Bale in the 2000 screen
adaptation of Bret Easton Ellis’s bestselling
American Psycho, may move to a fruitful career in the
hedge fund industry in a sequel to the novel,
Ellis recently tweeted.
Ellis, who has been referred to as "the poet of
beautiful blond people" and "
a sort of Scott Fitzgerald in Ray-Bans," is known for
writing about the decadent sex and drug-addled lives of banal
East and West Coast elites. Two more of his books, The Rules of Attraction and The Informers, were also made into movies.
Ellis was tweeting to his 260,000
followers on Twitter recently about a potential follow-up
to American Psycho and wrote that he had roughly
sketched out his Harvard graduate anti-hero’s
career path. "Scribbling notes on PB as hedge fund manager in
LA..." Ellis tweeted. "Patrick would hate Obama," he added,
which would be in keeping with dislike
many managers have for the President.
Going from investment banking to a Los Angeles
hedge fund, especially in the early 1990s, would have put
Bateman on an unusual, but not unprecedented, career path.
Harvard alumni Mitch Julis and Josh Friedman
formed Canyon Capital Advisors in Los Angeles in 1990 after
working at Drexel Burnham Lambert (Friedman had previously been
in the mergers and acquisitions division of Goldman Sachs). But
their move west was the exception. Most hedge funds are located
in the tri-state area. Among the 241 largest firms (those in
Billion Dollar Club), only 22 are based in California. They
manage a combined $108.5 billion of the $1.4 trillion managed
by all firms in the Club.
In the book, Bateman graduates from Harvard
Business School in 1988 and joins the M&A department of
fictional investment banking firm Pierce & Pierce, serving
as a vice president. It’s noted in the movie that
his father "practically owns" the firm. Asked what he does by a
girl in a loud nightclub, Bateman answers "I'm into, uh, well,
murders and executions, mostly." It remains to be seen whether
he'll make a killing in hedge funds.