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Multi-Millionaire Hedge Fund Manager Retires- Slams Capitalism, Advocates Hemp

by Erik Larson | October 19, 2008 at 08:43 pm

662 views | 24 Recommendations | 9 comments

Andrew Lahde (hedge fund manager who became famous last year for earning nearly 1000% speculating on Subprime defaults) retires in his 30's as multi-millionaire, thanking the spoiled MBA idiots who took his trades, and calling for a post-capitalist system of government that actually rewards merit and serves the public interest, and which includes using hemp as a fuel and food source.

Letter: Andrew Lahde, Lahde Capital Management
By Andrew LahdeFriday Oct 17 2008 13:15

October 17, 2008

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.

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Jon Azpiri

flagged this story as Good Stuff

at 20:45 on October 19th, 2008

Erik Larson, I like this story. It's good stuff. The full letter is an interesting rant. It is nice to see somebody get out and enjoy their money instead of spending all their time trying to make more money.

Rhonda J Mangus

flagged this story as Good Stuff

at 20:48 on October 19th, 2008

Erik Larson, I like this story. It's good stuff.

Mikasi

flagged this story as Good Stuff

at 20:59 on October 19th, 2008

Erik Larson, I like this story. It's good stuff.

Oddly enough I just finished reading this man's letter on another website. I think what he has to say about giving up persuit of insane amounts of cash just for the hell and the greed of it is smart. And his comments on the over-educated and undersmart people running the now destroyed companies was priceless.

He and I may actually agree that today's new aristocracy is no better that that of Louix XIV's. Inbred and overfed, and that's the best you can say about them.

Thanks for the read.

eastvanray

flagged this story as Good Stuff

at 21:09 on October 19th, 2008

Erik Larson, I like this story. It's good stuff.

It is easy to make those statements when you never have to work another day in your life.

Erik Larson

at 21:27 on October 19th, 2008

thanks, guys- i agree- fascinating perspective the guy has, radical life change. I wish him well with the ideas, he's got the money to invest in research and development. We can't eat, wear or live in money, it's only worth what we can trade it for, and what the People and "the market" agrees it's worth. However, i think human beings are worth more than money, and "merit" means creating long term value and making society more just and equitable. These Wall Street pigs who ran their post 9/11 wars and housing market/interest rate pump and dump on the taxpayers scheme need to be prosecuted, not rewarded.

stvalentine

flagged this story as Good Stuff

at 00:06 on October 20th, 2008

Erik Larson, I like this story. It's good stuff.

djermano

flagged this story as Good Stuff

at 05:01 on October 20th, 2008

Erik Larson, I like this story. It's good stuff.

There are a lot more like him.....

http://my.nowpublic.com/world/fraud-american-university-accreditation-news-opinion

I quit the University Scam a long time ago, a long with any connection to trading on Wall Street...because of the crooked nature of the business...It's failure only assures me that I have been right all along, and I certainly do not see them legalizing crime in the near future....but that may very well be the next step when they realize the bank bailout was a sham from the beginning.

Rev. Jermano