“Throw the Blackberry away and enjoy life.”

The Ladhe Capital Management group produced eye-popping returns of 866% in one of their hedge funds last year by betting that US subprime mortgages would implode.

They made a lot of money for a lot of investors. For themselves too. Enough for the 37 year old owner, Andrew Lahde to retire.

His farewell advice: “Throw the Blackberry away and enjoy life.”

The rest of his going-away letter was eye-popping as well ……

“The low-hanging fruit, ie 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 behaviour 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”.

Might as well. He won’t have nearly as much left after Barry Obama brings hope and change.


Sercan Ondem

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