Hedge Fund manager calls it a career......after shorting subprime
kgingras
Posts: 113
Read his letter here: http://www.hedgefund.net/dailyemailreports/Andrew_Lahde_Farewell.pdf
this is the last letter this guy sent out to his clients - he decided to call it quits and shut down his fund after being up about 1,000% from a huge short position in the sub-prime mortgage index (a bet i think he had on for multiple years).
I was in the game for the money, Lahde wrote. The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking.
Those idiots, according to Lahde, went on to run AIG, Bear Stearns, Lehman Bros. and the like. God bless America, Lahde wrote.
I was put off a bit by the hemp thing but am generally impressed. Definitely someone who knows how to make money in a moving market.
this is the last letter this guy sent out to his clients - he decided to call it quits and shut down his fund after being up about 1,000% from a huge short position in the sub-prime mortgage index (a bet i think he had on for multiple years).
I was in the game for the money, Lahde wrote. The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking.
Those idiots, according to Lahde, went on to run AIG, Bear Stearns, Lehman Bros. and the like. God bless America, Lahde wrote.
I was put off a bit by the hemp thing but am generally impressed. Definitely someone who knows how to make money in a moving market.
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Emotiva XPA-2
Parasound 2100
Emotiva ERC-1
Music Hall MMF 5
Strata Minis
PS3
Samsung PNA50A550 Plasma
Post edited by kgingras on
Comments
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Well lahde-dah. Interesting pov.
