Tuesday, October 21, 2008

Interesting: Hedge Fund Boss Retires at 37, Calls Traders "Idiots"

U.S. hedge-fund manager Andrew Lahde became famous in his business when one of his funds returned an astonishing 866 percent last year, mostly by betting U.S. housing loans would crash. Now, he's retiring at age 37 and in style: his farewell letter - calling fellow hedgies "idiots," telling them to throw away their Blackberries and appealing for the legalization of marijuana - has stirred waves. "All of this behaviour 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," he wrote. Read more about Lahde here.

TAGS: markets, interesting, hedge funds

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