First Post – There’s no doubt which was the most popular reading material in the
blogosphere this weekend – the extraordinary ‘farewell letter’ from Andrew Lahde, one of the most successful hedge fund manager in the world, who has said goodbye – and good riddance – to his old life in spectacular fashion.
Lahde became famous a year ago when his Santa Monica-based fund, Lahde Capital, returned a staggering 1000 per cent plus during 2007. The fund made its profit by shorting US suprime mortgages, which Lahde correctly predicted were a ticking time-bomb.
He was doing well this year, too, claiming a return of 400 per cent plus until he suddenly announced last month that he was bowing out. Then, on Friday, he decided to write an open letter to his former investors.