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Bulls at the Beach

We knew hedgies were here in the summer, but actually, many of them are here all the time. The WSJ says, "In the years since the Sept. 11, 2001, terrorist attacks, there's been a flowering of dozens of homegrown financial boutiques as well as the arrival of several major hedge funds that have opened mini-satellite offices." Above Babette's on Newtown Lane in East Hampton is an office for Daniel Loeb's Third Point LLC, with $13.6 billion in assets. (Daniel Loeb, of course, has a little place on Highway Behind the Pond.) In the offices at 33 Flying Point Road in Southampton, financial firms occupy 25% of the space. "Every year there are more and more firms, more and more people, and more and more wealthy clients who are out here full time," says Matthew Keller, branch director of Legend Securities Inc., also located above Babette's.
· 'Mini-Wall Street' Rises in Hamptons [WSJ]


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