NOT TO BE MISSED--Hedge Fund Manager: Goodbye ... And Think Pot

[Celebration]

http://www.cnbc.com/id/27239479

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. (I think they mean betting that subprime would 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. Text I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. 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.

...................snip.................................

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. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man's interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft's near monopoly. I believe there is an answer, but for now the system is clearly broken.

He goes on to wonder why marijuana is illegal.

[amdezurik]

1. mostly racism and cops

make headlines and money for new toys

[JDPriestly]

2. Great reading.

But, recreating our form of government would be impossible. If we can't even get a group of people whom we elect to vote to prevent what is essentially white collar crime, how in the world would we get a group of people to set up a better form of government. Right off the bat, the idea invites pay-offs and worse corruption than we have.

The answer is to pass a Constitutional amendment that once and for all clarifies that corporations do not have the rights of humans and states what rights corporations do have in clear language that even those inanimate, inarticulate things - corporations - can understand.