Working at a successful hedge fund bestows upon members of the team not only attractive compensation but often a stream of perks from brokers eager to sway trading business their way: dinners in high-end restaurants, open bar tabs, and the occasional round of golf or outing at sought-after sporting events. Not so at Watermark Group, a long-standing Princeton-based hedge fund. When an investment analyst broke an internal rule against broker favors by accepting US Open tickets from Lehman Brothers, co-founder Andy Okun insisted that the analyst pay back not simply the ticket’s face value, but its (much greater) scalp value. It took months of prodding for Lehman to cash the check.1