Ny Magazine – Andrew Lahde, the head of Santa Monica–based hedge fund Lahde Capital Management, who quit after posting an 870 percent gain last year, became something of a folk hero today after his awesome, Jerry Maguire–like farewell letter to clients made the rounds.
“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.”