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Hedge Fund Manager : Goodbye.. and Think Pot

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Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 11:55
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http://www.cnbc.com/id/27239479

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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.

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......


http://www.cnbc.com/id/27239479
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 12:14
Fun read.
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 12:22
What a way to go out with a bang...

He took a nice swipe against the Harvard MBAs!
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 13:13
I thinking working for that guy would be a life experience in and of itself!

The marijuana rant at the end was awesome! I mean, if you were to write a letter like that, would you think to put that in? The guy obviously doesn't give a crap anymore.

I agree with this part:
Quote:
Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck.


Once I've got enough to comfortably retire on ($1 to 2M), I'm out. If I do it 20 years, great, if I do it in 5 years, even better, but either way, I'm done.

Not that I'm knocking anyone who wants to be the richest man in the world, all the more power to you. But it's not for me.

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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 13:58
refurb wrote:
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Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck.


Once I've got enough to comfortably retire on ($1 to 2M), I'm out. If I do it 20 years, great, if I do it in 5 years, even better, but either way, I'm done.

Not that I'm knocking anyone who wants to be the richest man in the world, all the more power to you. But it's not for me.

RF


I believe the correct terminology is "Fu*k you money." In other words, you have enough to say fu*k you to whomever you like. That figure is subjective, of course.
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 14:18
kidderek wrote:
I believe the correct terminology is "Fu*k you money." In other words, you have enough to say fu*k you to whomever you like. That figure is subjective, of course.


That about sums it up! :-D

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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 14:42
So where did he do an MBA (if he did one)??

edit --
FOUND IT!!! he went to UCLA Anderson : http://www.bittenandbound.com/2008/10/1 ... anagement/
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 14:46
bsd_lover wrote:
So where did he do an MBA (if he did one)??

edit --
FOUND IT!!! he went to UCLA Anderson : http://www.bittenandbound.com/2008/10/1 ... anagement/


Anderson, I believe.
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 17 Oct 2008, 15:28
bsd_lover wrote:
So where did he do an MBA (if he did one)??

edit --
FOUND IT!!! he went to UCLA Anderson : http://www.bittenandbound.com/2008/10/1 ... anagement/


Nice detective work!!

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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 18 Oct 2008, 04:50
Yea, UCLA for his MBA. But Michigan State for undergrad (my alma mater!).

Fun read, interesting take.

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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 21 Oct 2008, 11:38
the author is prolly reffering to 'W' as a HSB graduate, only president to hold an MBA in the US history...

the interesting fact is that nobody was able to locate W's GMAT scores...
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 21 Oct 2008, 12:42
From Capital IQ:

Mr. Andrew Frank Lahde was the Founder and Managing Partner at Lahde Capital Management, LLC. He had an extensive experience in company and industry analysis, particularly in the telecom and business services sectors. As a Senior Research Analyst with Roth Capital Partners, Mr. Lahde was instrumental in generating investment ideas and performing in-depth research on individual companies. He joined in July 2002 as a Research Analyst focusing on Business Services. Before joining Roth, Mr. Lahde worked as an Associate with Gerard Klauer Mattison covering Wireless Technology. Prior to that, he was a Convertible Bond Analyst at Kayne Anderson Rudnick Investment Management. Mr. Lahde began his investment career in 1995 at TD Waterhouse where he was a Relationship Manager in the Institutional Division. He is a qualified C.F.A. Charter holder and the Vice-Chair of the Scholarship Committee for the Los Angeles Society of Financial Analysts. Mr. Lahde has been an active member of AIMR since 1997. He earned an M.B.A. degree from UCLA and B.A. in Finance from Michigan State University.
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Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink] New post 21 Oct 2008, 15:50
A very good take on things...

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Re: Hedge Fund Manager : Goodbye.. and Think Pot   [#permalink] 21 Oct 2008, 15:50
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