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This Strikes Me As Funny As Hell
Daily Pundit — So long, suckers. Millionaire hedge fund boss thanks ‘idiot’ traders and retires at 37 | Business | The Guardian The boss of a successful US hedge fund has quit the industry with an extraordinary farewell letter dismissing his rivals as over-privileged “idiots” and thanking “stupid” traders for making him rich. Andrew Lahde’s $80m Los Angeles-based firm Lahde Capital Management in Los Angeles made a huge return last year by betting against subprime mortgages. Yesterday the 37-year-old told his clients ...

Thanking Ivy League Schools
QandO — A hedge fund manager who made about 80 million last year betting against the subprime mortgage market has decided to retire at 37, but not before he gave a shout out to those who were responsible for his windfall. In a letter he says: ...

AIG in WAPO II
Angry Bear — ... (adjusted for inflation) says you don't find hundred dollar bills on the sidewalk. It is false. However, you don't find a hundred dollar bill on the same concrete square day after day. It is possible for financial operators to find an anomaly and make a huge profit with moderate risk. At best they can find two or three. There don't seem to be many of those who don't conclude that they are geniuses who can find such profit opportunities year after year. A shining exception is Andrew Lahde who made a killing and cashed in. However, he isn't in the business anymore. ...