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Ronald Colman
Living chic by jowl in the Malibu Colony
Living chic by jowl in the Malibu Colony

When Cheronda Guyton, a senior vice president with Wells Fargo, used a foreclosed home to host lavish parties last summer in the Malibu Colony, she broke more than a few company rules. But by caving to her craving for the beach life, the now-fired bank executive joined a long line of people aching to lay claim to that fabled stretch of sand. Located in the heart of Malibu just up the coast from Surfrider Beach, the famed Malibu Colony is a half-mile stretch of 100 or so homes that sit inches apart on the shoreline. They're luxurious retreats outfitted with outdoor kitchens, private cabanas and seaside teahouses. The roster of residents reads like the credits of the world's biggest...

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