For the hedgie who wants to dress for success in the hedge fund center of Greenwich, Conn., the fashion statement may be casual, but it still costs a bundle. The New York Times reports that Greenwich hedgies have been scoffing at the traditional corporate dress-suit-with-silk-tie attire and opting for what is being referred to as “dress casual” or “casual but respectable” – respectable, as in Armani labels with three-figure price tags for slacks and shirts. At ESL Investments, says the Times, respectable means “pressed khakis,” and not off the rack at Wal-Mart (needless to say, there is no Walmart in Greenwich). Yet, because ESL holds lots of stock in Sears, the label of the day tends to be from Sears’ higher-end Lands’ End division, whose custom shirts can cost a mere $135, compared with $200 for the big-name brands. Scott Stuart, formerly of Kohlberg Kravis Roberts, who launched his Sageview Capital in Greenwich last year, explains “dress casual” to mean neat and nice enough to look good in a blazer and tie – which he keeps on hand, as do execs at other laid-back hedge funds who go casual. A Greenwich clothier who caters to the casual crowd, Bob Mitchell of Richards, calls this new hedge fund look “the third closet,” since it is neither formal business nor weekend wear. Whether the casual look will catch on beyond Greenwich remains to be seen. Mitchell told the Times that financial firms in New York tried it several years ago but it was determined unsuitable; “people didn’t execute it well. It didn’t look appropriate. It didn’t look serious.” But in genteel Greenwich, it may have found a fit.”