June 16, 2020

Andrew Lahde’s Farewell Letter. Anyone who has read the book in its entirety will surely have been bewildered about how beguiled Wall Street. You can read excerpts from Andrew Lahde’s letter below. Recently, on the front page of Section C of the Wall Street Journal, a hedge fund. Andrew Lahde was the manager of a small US hedge fund that returned per cent to The following is an extract from his farewell letter.

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Today he writes us a letter: Today I write not to gloat.

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Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, ldtter most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye. I was in this game for the money. The low hanging fruit, i. 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. There are far too many people for me to sincerely thank for my success.

Lahde, who bet versus subprimes, quits hedge funds

However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are. I will no longer manage money for other people or institutions. I have enough of my own zndrew to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest.

That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck.

Appointments back to back, booked solid for the next three months, they look forward to their two week vacation lettef January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. I do not understand the legacy thing.

Be a global citizen.

Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life. So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all.

Andy Springer and his company will be handling the dissolution of the fund. I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting.


After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life — where I had to compete for spaces in universities and graduate schools, jobs and assets under management — with those who had all the advantages rich parents that I did not. May meritocracy be part of a new form of government, which needs to be established.

On the issue of the U. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen.

This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government.

Capitalism worked for two hundred years, but times change, and systems become corrupt.

George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. I believe there is an answer, but for now the system is clearly broken. Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. But lrtter has been used for at least 5, years for cloth and food, as well as just about everything that is produced from petroleum products.

Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp.

Government, and then promptly made illegal after the war was won. At a time when rhetoric is flying andree becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? The evil female plant — marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country.

My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources.

Our policies have other countries literally laughing at our stupidity, most notably Canada, lahdw well as several European nations both Eastern and Western. You would not know this by paying attention to U. With that I say good-bye and good luck. All the best, Andrew Lahde appearing all over the web, thus posted it in it’s entirety. Originally posted by ScruffyNerf: That’s like the latest one hit wonder on MTV trying to tell me how to vote. Originally posted by Emkorial: Because he’s made his cash and no longer has to worry about what people like you think?


Originally posted by wEvuk: Yea – there is rich, then there is really rich, then ladhe is Eff You Money. I never understood why people so the “where does he get off on saying things? It’s like the height of irony or maybe hypocrisy to post in a public forum about how stupid it is that he feels entitled to his opinion. Plus, he makes valid points. Idealistic, ultimately unreasonable points, but valid ones. Not that you’ll ever read this Andrew, but enjoy your life. At least Lahde realizes what life is worth Having seen hedge funds, their managers, etc from the inside Some of these guys, as I’ve mentioned in the ‘is trading gambling’ thread So kudos to Lahde for realizing enough is enough and to go out and enjoy life, see the world, blah blah blah He’s got enough money to ignore the rat race and to literally do what lettef wants.

Should we all be so successful. I made thousands shorting the market too, and you don;t hear me pntificaiotn about how supid everyone else is, or how I think America should run itself. What a pretentious Lettr hole. This kind of drives my point home as to the type of people run these funds. Maybe even a B hole.

Andrew Lahde’s open letter: “Goodbye and F**k You” – Ars Technica OpenForum

Uh, yes we do. You post in the SoapBox. I don’t agree with it, but I understand it. Finally, my point was I don’t see any reason to ad hom the guy which you are doing for posting his opinion on the internet. I just find it annoying. If he actually felt the way he id, he would have just left to go do his thing. Beg for attention much? Eh, I just can’t get upset over it. Humans are by and large attention whores, and the internet magnifies that.

Originally posted by cepheid: The amount of money some of these guys have, let alone manage and leech off of, is offendingly disgusting. I never understood the “you have nadrew much money you are disgusting” attitude, particularly from Americans.

It seems the dream is to be hugely rich, but if you get there, you are disgusting.

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