Hedge Fund Manager: Goodbye ... And Think Pot
BUSINESS BIZ COMPANIES MARKETS
Portfolio.com
| 17 Oct 2008 | 12:48 PM ET
From the Scorched Earth Files:
Andrew Lahde, manager of a small California hedge fund, Lahde Capital, burst into the spotlight last year after his one-year-old fund returned 866 percent betting against the subprime collapse.
Last month, he did the unthinkable -- he shut things down, claiming dealing with his bank counterparties had become too risky. Today, Lahde passed along his "goodbye" letter, a rollicking missive on everything from greed to economic philosophy. Enjoy:
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.
Andrew Lahde
URL: http://www.cnbc.com/id/27239479/
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment