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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......
Re: Hedge Fund Manager : Goodbye.. and Think Pot [#permalink]
21 Oct 2008, 13:42
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.
http://blog.ryandumlao.com/wp-content/uploads/2016/05/IMG_20130807_232118.jpg The GMAT is the biggest point of worry for most aspiring applicants, and with good reason. It’s another standardized test when most of us...