Hedge Fund Wives. Tatiana Boncompagni

       ONE Baptism by Champagne Fountain

      When I first opened the invitation to Caroline Reinhardt’s baby shower, I thought I’d received it by mistake. I barely knew anyone in the city besides my husband John, who six months earlier had been recruited from his desk at the Chicago Mercantile Exchange to trade energy derivatives for a New York-based commodities-focused hedge fund. They made an offer we couldn’t refuse, and in the short span of a week, we were packing our boxes for Manhattan and toasting the Windy City goodbye with vodka gimlets in the bar at the top of the John Hancock Tower.

      Now, half a year later, it was early December, and I was surrounded by hedge fund wives. With the sun shining bright against a clear sky, the air refreshingly cool on the necks of the fur-and-diamond-clad shower guests as they streamed past a pair of gargantuan front doors—doors that had reputedly once graced a fourteenth-century Venetian palace—and into the lavishly decorated home of Dahlia Kemp, wife of billionaire hedge fund manager Thomas Kemp, the day held nothing but the promise of pleasure. Once inside and relieved of their furs, the women would fill their flutes at a free-flowing Perrier-Jouët champagne fountain and nibble on passed hors d’oeuvres of beluga caviar and jamón ibérico, all the while studying (furtively, of course) the Kemp’s impressive art collection and gossiping in excited half-whispers about the expense to which Dahlia must have gone for the event.

      Certainly a three-course gourmet meal accompanied by rare vintage wines, a five-tiered Sylvia Weinstock cake and goody bags stuffed with diamond earrings and fourfigure day spa gift certificates had to amount to an important sum, even for the wife of a man who had cleared ‘three point two’ (billion) the previous year. Even the invitations, which had been hand-delivered by a white-gloved courier and sent with a small gift, an Hermès silk scarf, to underscore the party’s theme (Rue du Faubourg) and dress code (French chic), were absurdly costly. No, no detail had been skimped on or forgotten for Caroline’s shower, and years later all of the guests would remember the party as the last of its kind.

      Although no one spoke of it, the economy had begun to sour and every day brought fresh tales of falling fortunes. Most of the women assumed that their vast monetary reserves would protect them from having to alter any aspect of their enviable lives, but of course they were wrong. Wealth is relative by nature, and if one day you have a hundred million dollars and the next you have only fifty, the things that were once within reach—the private jet, the home in Aspen, or even five-tiered Sylvia Weinstock cakes—are suddenly out of it. Under such circumstances, it’s not long before a marriage built around material possessions and predicated upon the shared responsibility of their care and maintenance, begins to crumble.

      But on the day of Caroline’s shower, at least, the wealth flowed as freely as the champagne, and I was more than happy to partake in the merriment. Not because of the gourmet morsels and vintage bubbly—I’m more of a cheese plate and glass of white kind of girl—but because I was desperate to make some friends. I’d done little to no socializing since we’d moved,