‘Throw Away the Blackberry and Enjoy Life’ Andrew Lehde has quit the hedge fund business. In a letter sent to clients, and released, or at least available, to the public, he states his views quite clearly.
I was in this game for the money.
No mincing words.
The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. 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.
I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck.
That's to the point.
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. I have no interest in any deals in which anyone would like me to participate. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle.
Geez. New York Magazine points out his fund had an 870% return last year. Nice. But ...
On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen.
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.
hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won.
Please people, let’s stop the rhetoric and start thinking about how we can truly become self-sufficient.