Andrew Lahde’s goodbye letter (and what’s wrong with our country)
One of my next posts, that has been coming together in my head for a while, will be on the role hedge funds play in our economy and what responsibility, if any, they should assume for current conditions.
This farewell letter was sent to me recently by a friend in the industry. Andrew Lahde is a guy who formed a relatively small hedge fund, made an enormously successful bet on subprime (his fund is up 1,000% this year) and is now calling it quits. His insights are simple, yet profound and I find his comments about our government and legislation policy of particular interest.