Monday, October 20, 2008

A Real American Hero

I realize that many people have little interest in economics or even American problems that flip through this site. One of the most interesting things about videogames is how much it's an international affair. You don't really need to care about any of those things to appreciate this letter.

Essentially, a hedge fund manager named Andrew Lahde made a macro bet that the entire subprime crisis was going to happen back in 2007. He based this bet on the realities of how corrupt and inept the system was being operated. As a consequence, he made an 866% return on all of his funds (the average last year was 10%). Given his cut off the profits from this bet, he now has enough money to retire and die with change to spare.

His resignation letter, however, did not lose the opportunity to tell his investors and fellow workers what he really thought about them.

Bonus: the final section involves legalizing marijuana.

1 comment:

David Sahlin said...

That was a great read to wake up to this morning. Thanks!