I was in this game for 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.
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Andrew Lahde, head of Santa Monica, California-based Lahde Capital Management LLC, in his two-page farewell letter to clients. He was a hedge-fund manager who quit after posting an 870 percent gain last year.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aVUE96d.HKyw&refer=home
Posted October 20, 2008 at 12:39pm
