So long, suckers.Millionaire hedge fund boss thanks 'idiot' traders and retires at 37 - GoFuckYourself.com

directfiesta · 10-18-2008, 06:14 PM

This guy knows how to give a good big

Quote:

The boss of a successful US hedge fund has quit the industry with an extraordinary farewell letter dismissing his rivals as over-privileged "idiots" and thanking "stupid" traders for making him rich.

Andrew Lahde's $80m Los Angeles-based firm Lahde Capital Management in Los Angeles made a huge return last year by betting against subprime mortgages.

Yesterday the 37-year-old told his clients that he had hated the business and had only been in it for the money. And after declaring he would no longer manage money for other people, because he had enough of his own, Lahde said that instead he intended to repair his stress-damaged health; he made it clear he would not miss the financial world.

"The low-hanging fruit, ie idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking," he wrote. "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," he said.

"All of this behaviour 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."

Lahde became one of the biggest names in the investment industry when one of his funds produced a return of 866% last year, largely by forecasting the US home loans industry would collapse.

In his farewell letter, which concluded with an appeal for the legalisation of marijuana, Lahde said he was happy with his rewards and did not envy those who had made even more money.

"I will let others try to amass nine, 10 or 11 figure net worths. Meanwhile, their lives suck," he wrote, citing a life of back-to-back business appointments relieved only by a two-week annual holiday in which financiers are still "glued to their Blackberries".

Lahde's retirement came amid an implosion among the hedge fund industry - some 350 of the funds have liquidated this year, according to Hedge Fund Research.

His final words of advice? "Throw the Blackberry away and enjoy life."

http://www.guardian.co.uk/business/2...king-useconomy

nice real life rant

The Duck · 10-18-2008, 06:16 PM

Nice find and I love how he honestly just gives it to them hard.

BlackCrayon · 10-18-2008, 06:17 PM

Quote:

His final words of advice? "Throw the Blackberry away and enjoy life."

Its easy to say once you've got your riches. Not so easy otherwise.

robfantasy · 10-18-2008, 06:18 PM

i love it

Iron Fist · 10-18-2008, 06:20 PM

Greed is good.. isn't it?

papill0n · 10-18-2008, 06:24 PM

Quote:

Originally Posted by BlackCrayon

Its easy to say once you've got your riches. Not so easy otherwise.

Yeah exactly.

xenigo · 10-18-2008, 06:32 PM

Quote:

Originally Posted by RageCash-Ben

Yeah exactly.

This is exactly what I was thinking. These are the words of someone who's "been there, done that". But you can't say 'fuck the world' until you're there.

Manowar · 10-18-2008, 06:50 PM

what an attitude

rowan · 10-18-2008, 08:10 PM

Is the $80m firm value before or after the 866% return? :D

tony286 · 10-18-2008, 08:17 PM

scumbags in suits.

marketsmart · 10-18-2008, 08:35 PM

you saw what happened to jerry mcguire when he sent out his manifesto...

Drake · 10-18-2008, 09:40 PM

I commend him. He took the common sense approach and won big because of it. What goes up really fast will come down that much harder. His elite associatses had experience and education, but lacked wisdom. Thet were just greasing the machine that was going to take the market down and themselves with it.

"The low-hanging fruit, ie idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking," he wrote. "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," he said.

That's a great line.

kahell · 10-18-2008, 09:45 PM

Andrew Lahde's is very wise and got huge balls, and i want to be like him LOL

SomeCreep · 10-18-2008, 09:49 PM

Quote:

Originally Posted by directfiesta

This guy knows how to give a good big

Quote:

The boss of a successful US hedge fund has quit the industry with an extraordinary farewell letter dismissing his rivals as over-privileged "idiots" and thanking "stupid" traders for making him rich.

Andrew Lahde's $80m Los Angeles-based firm Lahde Capital Management in Los Angeles made a huge return last year by betting against subprime mortgages.

Yesterday the 37-year-old told his clients that he had hated the business and had only been in it for the money. And after declaring he would no longer manage money for other people, because he had enough of his own, Lahde said that instead he intended to repair his stress-damaged health; he made it clear he would not miss the financial world.

"The low-hanging fruit, ie idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking," he wrote. "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," he said.

"All of this behaviour 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."

Lahde became one of the biggest names in the investment industry when one of his funds produced a return of 866% last year, largely by forecasting the US home loans industry would collapse.

In his farewell letter, which concluded with an appeal for the legalisation of marijuana, Lahde said he was happy with his rewards and did not envy those who had made even more money.

"I will let others try to amass nine, 10 or 11 figure net worths. Meanwhile, their lives suck," he wrote, citing a life of back-to-back business appointments relieved only by a two-week annual holiday in which financiers are still "glued to their Blackberries".

Lahde's retirement came amid an implosion among the hedge fund industry - some 350 of the funds have liquidated this year, according to Hedge Fund Research.

His final words of advice? "Throw the Blackberry away and enjoy life."

nice real life rant

That man sounds narcissistic and lacks humility. I do not envy him.

10-18-2008, 06:16 PM	#2
The Duck Adult Content Provider Industry Role: Join Date: May 2005 Location: Europe Posts: 18,243	Nice find and I love how he honestly just gives it to them hard. __________________ Skype Horusmaia ICQ 41555245 Email [email protected]

10-18-2008, 06:18 PM	#4
robfantasy Confirmed User Industry Role: Join Date: Jun 2002 Location: Medellin, Colombia Posts: 6,445	i love it __________________ Looking to speak w/ high volume nutra CPA affiliates or networks... msg me

10-18-2008, 06:20 PM	#5
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	Greed is good.. isn't it? __________________ i like waffles

10-18-2008, 09:45 PM	#13
kahell Confirmed User Join Date: Aug 2005 Location: icq 493295044 Posts: 292	Andrew Lahde's is very wise and got huge balls, and i want to be like him LOL __________________

10-18-2008, 06:50 PM	#8
Manowar jellyfish Join Date: Dec 2003 Posts: 71,528	what an attitude

10-18-2008, 08:10 PM	#9
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	Is the $80m firm value before or after the 866% return? :D

10-18-2008, 08:17 PM	#10
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	scumbags in suits.

10-18-2008, 08:35 PM	#11
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	you saw what happened to jerry mcguire when he sent out his manifesto...

10-18-2008, 09:40 PM	#12
Drake Hello world! Industry Role: Join Date: Mar 2003 Posts: 12,508	I commend him. He took the common sense approach and won big because of it. What goes up really fast will come down that much harder. His elite associatses had experience and education, but lacked wisdom. Thet were just greasing the machine that was going to take the market down and themselves with it. "The low-hanging fruit, ie idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking," he wrote. "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," he said. That's a great line.