Awesome farewell!!

Come across this interesting article about this cool dude Andrew Lahde, manager of a small California hedge fund, Lahde Capital, who burst into the spotlight last year after his one-year-old fund returned 866% betting on the subprime collapse. He decided to retire at the age of 37 and wrote a interesting "farewell" letter (via FT Alphaville and Portfolio.com).

Here goes....

Dear Investor:

Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.

Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, “What I have learned about the hedge fund business is that I hate it.” I could not agree more with that statement. I was in this game for the money. 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. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.....


For more of the article, do click on the either of this links FT Alphaville and Portfolio.com... All i can say... What a COOL DUDE :)