Andrew Lahde caught the spirit of the times in a farewell letter to investors in his high-flying hedge fund.
After famously posting something on the order of 1,000-per-cent returns on a bet against sub-prime mortgage markets, the founder of California-based Lahde Capital Management is getting out of the hedge fund business. And he's damn happy to be doing so.
In a rant that's got Wall Street types laughing, or fuming, Mr. Lahde headed for the hills after venting his frustration with financiers, corporate life, Ivy League breeding and U.S. marijuana laws. If nothing else, it's an entertaining read - the Financial Times web site has posted the whole letter, and copies are whizzing around the Street.
