The Anti-Status Watch: Why Men in Finance Love Cheap, Cheesy Watches
The ultimate trading-floor flex? A Snoopy Swatch. Or a Casio calculator. Why lots of money men (still) favour novelty watches.
The ultimate trading-floor flex? A Snoopy Swatch. Or a Casio calculator. Why lots of money men (still) favour novelty watches.
How do you tell the time? Neal W. McDonough, the COO of a finance and policy startup in Ho-Ho-Kus, N.J., looks to Charlie Brown, the loveable, miserable “Peanuts” protagonist. An illustration of the character occupies the exec’s watch dial, Brown’s stout arms acting as the minute and hour hands.
McDonough, 55, bought the kooky Timex for a Valentine’s Day trip about five years ago, along with a matching model depicting Lucy van Pelt (Brown’s frenemy) for his then-girlfriend. To his surprise, he kept wearing the $150-ish ticker after the trip. “It’s now my business watch,” he said, adding that such a non luxury model can telegraph that he’s under no obligation to be flashy. “I have nothing to prove to anyone,” he said. “And the fun thing is, a lot of people notice [my watch].”
Though finance guys famously flaunt Rolexes or Patek Philippes on their wrists, an established subspecies of money men goes the other way entirely. In place of a sleek steel case and elegant ceramic dial? Mickey Mouse. SpongeBob SquarePants. Fanta-orange rubber straps.
Over the years, highfliers have made headlines for sporting Swatches. (See: Blackstone Group CEO Stephen A. Schwarzman or former Goldman Sachs CEO Lloyd Blankfein .) That “wealthy guy, cheap watch” ethos continues to resonate in boardrooms and on trading floors, with men of all seniority levels embracing plasticky, offbeat designs, from superhero models to calculator Casios. Many resemble something you might win in a claw machine. Priced from $30 to a few hundred bucks, they’re a bit of fun and a different sort of flex, conveying an “I don’t need a Rolex” bravado that comes from having made it. Call them anti-status watches.
Patrick Lyons, the managing partner of a family office in New York, rotates two contrasting watches: a 1988 Santos de Cartier and a Nickelodeon “SpongeBob SquarePants” model with a tangerine strap.
The Cartier, a family heirloom, is a slice of French sophistication; the Nickelodeon dial features a giant image of a pink starfish named Patrick Star who lives under a rock. Lyons, 35, likes that the second watch is idiosyncratic—and that its starfish shares his name. “I wear that more often than my Cartier,” he said, adding that he hopes to pass down both models to future offspring.
Leroy Dikito, 42, an executive director at JPMorgan Chase in New York, chose his $450 “Avengers” watch from Citizen because it reminds him of his father, who loved comic books. Though its stainless-steel strap reads urbane enough, its cheerfully garish dial slices together images of the Hulk, Iron Man, Captain America and other superheroes. Working in finance, you need to be “serious all the time,” so a fun watch brings welcome levity, said Dikito. “People need to know there is more than the big job and the title.”
Since a suit can only inject so much color, a watch offers that rare opportunity to “show off your personality,” said Eli Tenenbaum, 36, the director of corporate development for a New York private-equity firm. Plus, he noted, “If you wear a fancy watch, chances are someone else may be wearing the same one.” Tenenbaum runs little risk of twinning with a colleague when he straps on his Mickey Mouse or Snoopy Swatches, worn with premium Brioni or Zegna suits.
Evan Vladem, 37, considers his Casio calculator watch a neat “ice breaker” when schmoozing, a professional obligation for the partner at a financial advisory in Fort Lauderdale, Fla. “It came in handy to break up awkward moments,” he said of the black, $30-ish design, a Casio classic. At a dinner with an insurance partner a few years ago, he recalls, the conversation petered out after an exchange about a client’s situation, which involved some financial arithmetic. “I pulled out my wrist and said, with a smile, ‘Well, I’m happy I have my trusty calculator watch to help me here,’” said Vladem. “We both laughed. [It] kicked off another conversation.”
Even men who have invested heavily in high-end horology seem to be falling for cheap, kitschy designs. Scott Jay Kaplan, 44, a film producer and financier for Brooklyn company CoverStory, owns pricey models from Rolex and Audemars Piguet. But for daily wear he’s currently favouring a super-chunky $25 watch he bought in Argentina this past winter, a model similar to a G-Shock but by an unfamiliar brand. He says he has received a lot of compliments on it, and it has held up surprisingly well. “I bought it because it looked silly,” he said. “Not for clout.”
McDonough, the Charlie Brown fan, urges anyone considering a novelty ticker to follow just one rule: Don’t splurge. “I think the whole idea of luxury watch brands coming out with ‘kitsch’ watches is…a little bit absurd,” he said. “So anything over, say, $500 would be out.”
Prop styling by Marina Bevilacqua
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At least for people who carry the APOE4 genetic variant, a juicy steak could keep the brain healthy.
Must even steak be politicised? The American Heart Association recently recommended eating more “plant-based” protein in a move to counter the Health and Human Services Department’s new guidelines calling for more red meat.
Few would argue that eating a Big Mac a day is good for you.
On the other hand, growing evidence, including a study last month in the Journal of the American Medical Association, suggests that eating more meat—particularly unprocessed red meat—can reduce the risk of Alzheimer’s in the quarter or so of people with a particular genetic predisposition.
The APOE4 gene variant is one of the biggest risk factors for Alzheimer’s.
You inherit one copy of the APOE gene from each parent. The most common variant is APOE3; the least is APOE2.
The latter carries a lower risk of Alzheimer’s, while the former is neutral. A quarter of people carry one copy of the APOE4 variant, and about 2% carry two.
APOE4 is more common among people with Northern European and African ancestry. In Europe the variant increases with latitude, and is present in as many as 27% of people in northern countries versus 4% in southern ones. God smiled on the Italians and Greeks.
For unknown reasons, the APOE4 variant increases the risk of Alzheimer’s far more for women than men.
Women’s risk multiplies roughly fourfold if they have one copy and tenfold if they have two. Men with a single copy show little if any higher risk, while those with two face four times the risk.
What makes APOE4 so pernicious? Scientists don’t know exactly, but the variant is also associated with higher cholesterol levels—even among thin people who eat healthily.
Scientists have found that cholesterol builds up in brain cells of APOE4 carriers, which can disrupt communications between neurons and generate amyloid plaque, an Alzheimer’s hallmark.
The Heart Association’s recommendation to eat less red meat may be sound advice for people with high cholesterol caused by indulgent diets.
But a diet high in red meat may be better for the brains of APOE4 carriers.
In the JAMA study, researchers at Sweden’s Karolinska Institute examined how diet, particularly meat consumption, affects dementia risk among seniors with the different APOE variants.
Higher consumption of meat, especially unprocessed red meat, was associated with significantly lower dementia risk for APOE4 carriers.
APOE4 carriers who consumed the most meat—the equivalent of 4.5 ounces a day—were no more likely to develop dementia than noncarriers. (
The study controlled for other variables that are known to affect Alzheimer’s risk including sex, age, physical activity, smoking, alcohol consumption and education.)
APOE4 carriers who ate the most unprocessed meat were at significantly lower risk of dying over the study’s 15-year period and had lower cholesterol than carriers who ate less. Go figure. Noncarriers, however, didn’tenjoy similar benefits from eating more red meat.
The study’s findings are consistent with two large U.K. studies.
One found that each additional 50 grams of red meat (equivalent to half a hamburger patty) that an APOE4 carrier consumed each day was associated with a 36% reduced risk of dementia.
The other found that older women who carried the APOE4 variant and consumed at least one serving a day of unprocessed red meat had a cognitive advantage over carriers who ate less than half a serving, and that this advantage was of roughly equal magnitude to the cognitive disadvantage observed among APOE4 carriers in general.
In all three studies, eating more red meat appeared to negate the increased genetic risk of APOE4.
Perhaps one reason men with the variant are at lower Alzheimer’s risk than women is that men eat more red meat.
These findings might cause chagrin to women who rag their husbands about ordering the rib-eye instead of the heart-healthy salmon.
But remember, the cognitive benefits of eating more red meat appear isolated to APOE4 carriers.
Nutrition is complicated, and categorical recommendations—other than perhaps to avoid nutritionally devoid foods—would best be avoided by governments and health bodies.
Readers can order an at-home test from any number of companies to screen for the APOE4 variant.
The Swedish researchers hypothesize that APOE4 carriers may be evolutionarily adapted to carnivorous diets, since the variant is believed to have emerged between one million and six million years ago during a “hypercarnivorous” period in human history.
The other two APOE variants originated more recently, during eras when humans ate more plants.
APOE4 carriers may absorb more nutrients from meat than plants, the researchers surmise. Vitamin B12—low levels have been associated with cognitive decline—isn’t naturally present in plant-based foods but is abundant in red meat.
Foods high in phytates (such as grains and beans) can interfere with absorption of zinc and iron (also high in red meat), which naturally declines with age. So maybe don’t chuck your steak yet.
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