Why are hedge funds buying annuities?

Market Watch – Picture a scene from a future Oliver Stone movie. A high rise Wall Street office where a selected few master-of-the-universe hedge fund owners are sitting around drinking $500-a-glass single malt trying to figure out their next step toward world dominance.

Suddenly, in walks the nerdy bean counter that everyone makes fun of and has the smallest office a few floors down that’s always piled high with need-to-read paper. Stunned that he has the guts to walk into unwelcome territory, he is met with a chorus of insults from the gorillas in the room. The ghost like look on the bean counter’s face makes everyone push pause on their ongoing life celebration to hear whatever gave him the guts to interrupt financial royalty.

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