Read Trending Stories
- » Ultimate Market Recap: Talbots Tanks, Facebook Fiasco Continues
- » Are Facebook Losses Bigger Than Initially Thought?
- » Consumer Business Recap: Toyota Needs Emerging Markets, Wal-Mart's Express Update
- » Consumer Biz Recap: Talbots CRASHES HARD, Time Warner Eyes Sports Website
- » Your Cheat Sheet to Apple's Week of Stock Moving News
Today's Trending Stocks
Click a Company to Research Now:
- Bank of America (BAC)
- Apple . (AAPL)
- Facebook (FB)
- AT&T (T)
- Nokia (NOK)
- Delcath Systems (DCTH)
- Mentor Graphics Corp (MENT)
- Complete Genomics (GNOM)
Hazing, shaking hands, and being a legacy won’t necessarily get you into this fraternity. To be included in Wall Street’s invitation-only Kappa Beta Phi, it’s about who you know.
Established in 1929 as a social club by a group of Wall Street heavy hitters, the name Kappa Beta Phi is a play on the honor society, Phi Beta Kappa. Over the years it has emerged as an “upper-crust Friar’s Club roast” with leaders named “Grand Swipe,” “Grand Smudge,” “Grand Loaf,” and “Master-at-Arms.”
The group’s insignia includes a beer stein, a Champagne glass, a pointing hand and five stars, according to the New York Times. Its Latin motto, “Dum vivamus edimus et biberimus” means “While we live, we eat and drink.“ Dues are $475 a year.
Last week, the group met for its 80th annual black-tie dinner and induction ceremony at Manhattan’s St. Regis Hotel. In attendance were leaders from large investment banks, private equity firms, and hedge funds.
Let’s Get This Party Started
According to the New York Times, a reporter sneaked into the event and shared the following from the evening …
Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!
Do You Want More Profits? Wall St. Cheat Sheet Premium newsletter subscribers have been crushing the markets with winning stock picks.
Click here now for your FREE trial to our acclaimed flagship newsletter:
