Somebody got it right...

Lahde Quits Hedge Funds, Thanks `Idiots' for Success

By Katherine Burton

Oct. 17 (Bloomberg) -- Andrew Lahde, the hedge-fund manager who quit after posting an 870 percent gain last year, said farewell to clients in a letter that thanks stupid traders for making him rich and ends with a plea to legalize marijuana.

Lahde, head of Santa Monica, California-based Lahde Capital Management LLC, told investors last month he was returning their cash because the risk of using credit derivatives -- his means of betting on the falling value of bonds and loans, including subprime mortgages -- was too risky given the weakness of the banks he was trading with.

``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government.

Source

I had to laugh at this article, a hedge fund manager who actually tells it how it is and thanks the morons who made it possible for him to make almost 1000% profit. He's going out in a blaze of glory..

lol he didn't hold back any of his middle finger on that one did he?

i have to applaud him though. at least he had a bit of courage to go against the grain and say exactly how he felt.

i'm sure the media will tear him apart though, mostly because of the legalize it thing at the end hehe

I believe I just found my new hero.



I applaud Mr. Laude for defeating the money manipulators at their own game, glad to see someone is coming out on top in this mess besides the Wall st crooks who are being bailed out by our tax dollars. He used their own greed and stupidity against them and made a ton of money doing so.


And without any great detail I will simply say that I agree with his closing sentiments completely and I wish this man luck in his new life and I applaud him for having the cajones to step up and tell it like it is.


Bravo sir....good for you.

Yeah even a smart rich fat cat like him knows the truth and isn't afraid to let it out.
Its good to see someone with wealth going against the moronic mainstream ass kissing liars.
Good on him.

Ha I love him. I also deeply envy him. I hope he has fun with his life. Whatever that will be.

Originally posted by mythatsabigprobe

Lahde Quits Hedge Funds, Thanks `Idiots' for Success

By Katherine Burton

``I was in this game for money,'' Lahde, 37, wrote in a two-page letter today in which he said he had come to hate the hedge-fund business. ``The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government.

Source

I really wonder If this man understood his role ...

In which case he might have a different attitude about his peers,
(wither they be idle-rich, spoiled, low-hanging fuit...etc)


our present 'wonderland' landscape which makes up a goodly part of the economic landscape, is only a necessary dynamic to constantly exchange money.... which keeps the economic machinery (with way too many cogs & widgets) running.

if the derivatives weren't there to become default products, then more Junk-Bonds would still reign supreme...
all these financial instruments require trading, which generates taxes and incomes for everyone involved... welcome to wonderland


i'm sure he still believes he stuck it to the system...
but even in his absence he's a participant in the matrix....

[copy from duplicate thread]

I've never come across a sensible explanation as to why hemp was banned. Alternative media sources always claim it can be used to make anything, feed everyone and cure any ill.

While I'm clearly exaggerating there is a point to all this, Is this just another baseless conspiracy theory or do we have an efficient alternative right under our noses?

Who gains?

Hey the man stated his opinion and made no excuses for what he did, that does not make his actions "acceptable" but I at least found it refreshing to hear from one of "those guys" what I always thought they were doing was true..

That I could do it, so I did!!! (not morally right) but at least that part was honest, ... what else to say????

reply to post by Nirgal


Hard for the government to collect taxes on a weed that takes very little effort to grow.. better to outlaw it, and collect fines that way..

also did you know that for years it was a law in the USA, that farmers had to grow a certain amount of hemp?? of course this was a long time ago. but check it out...

don't know what's up but can't get any links right now, will try again later (sorry guys)

[edit on 18-10-2008 by SideWynder]