Actually, when talking about faulty financial systems, his ability to game it and get rich should mean his words have more weight. Originally posted by JasterMereel: It was a lot of info— I was just trying to take up less leyter estate here in this thread. Archived from the original on 25 September So he identified an obvious problem and asks someone else to fix it. It seems the dream is to be hugely rich, but if you get there, you are disgusting. Views Read Edit View history.
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Print this page October 17, 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. 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. God bless America. There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award.
The money was reward enough. Furthermore, the endless list of those deserving thanks know who they are. I will no longer manage money for other people or institutions. I have enough of my own wealth 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 lookforward to their two week vacation in 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. 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 hemp 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 about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country?
Ah, the female. 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 addictive 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, as well as several European nations both Eastern and Western. You would not know this by paying attention to U. With that I say goodbye and good luck. All the best, Get alerts on Financial services when a new story is published Get alerts.
Andrew Lahde's Farewell Letter
Print this page October 17, 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. I was in this game for the money. The low hanging fruit, i.
ANDREW LAHDE FAREWELL LETTER PDF
Bralar At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it anddew to grow this plant in this country? I am content sitting on the sidelines and waiting. This guy did the easy part and there is no evidence that his success at the hard part was anything more then luck. Who the fuck is Faerwell Cohen? Andrew Lahde — Wikipedia Lahde has taken the best small fry approach, notice your 15min of fame and bolster the causes you care about intelligently. 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. But you must recognize his market positions as fundamentally correct.
ANDREW LAHDE LETTER PDF
By the letetr, did you know how amazing hemp is? This guy likes smoking weed and making money. Lahde founded his own hedge fund, Lahde Capital, which was based out of Santa Monica. Andrew Lahde 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 letterr a plant in your home without some of the profits going into their coffers. Meanwhile, their lives suck.
Archived from the original on January 22, Nov 26, Posts: May 11, Posts: This is an outrage, yet no one seems to know or care about it. I was in lahdf game for the money. I have enough of my own wealth to manage. The amount of money some of these guys have, let alone manage and leech off of, is offendingly disgusting.