Good Night, and Good Luck
Recently I was reading about people who were winning during this “global economic crisis” and I came across the name Andrew Lahde.
Andrew used to run a hedge fund, which makes you instantly wonder how he has made it onto this winners list. But not all hedge funds are taking hits during this downturn. Andrew’s background was real estate, and based on his understanding of how shaky the underlying assets of credit default swaps and other mortgage backed securities were he structured his entire fund around betting against that market. In 2008 alone his fund was up over 1000%. That means that if you had invested $100 with him at the beginning of 2008 you’re money would be worth $1100 on New Years Eve. Not too shabby.
But the best part, by far, is the fact that Andrew logged this phenomenal return and then just closed his shop down. He, in a very organized and orderly fashion, had all the investments (plus the massive returns) given back to his investors and then he just took his cut and left, leaving just a single, short letter as explanation of his exit.
This letter is a gem. But my favorite part, sandwiched between railing on the American aristocracy and calling for legalization of hemp is,
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.
From fund manager working 90 hours a week to completely disappeared sipping margaritas on a beach in 3 seconds flat. There is something very very appealing about that.
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