Andrew Lahde made a bundle of money in the hedge fund business betting that the sub-prime mortgage industry would collapse. It was a good bet:
Yesterday the 37-year-old told his clients that he had hated the business and had only been in it for the money. And after declaring he would no longer manage money for other people, because he had enough of his own, Lahde said that instead he intended to repair his stress-damaged health; he made it clear he would not miss the financial world.
“The low-hanging fruit, i.e., idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking,” he wrote. “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,” he said.
“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 let others try to amass nine, 10 or 11 figure net worths. Meanwhile, their lives suck,” he wrote, citing a life of back-to-back business appointments relieved only by a two-week annual holiday in which financiers are still “glued to their Blackberries.”
Hilarious. And a sad indictment of some in our culture who’ve come to believe that the pursuit of money is a lifelong spiritual quest.
His final word of advice: “Throw the Blackberry away and enjoy life.”