All of us in the investment banking world know what we do to others' money, so that we make our money. In this context, there is a fascinating retirment letter written by hedge fund manager Andrew Lahde, who produced a one-year 866 percent return betting on the subprime mortgage collapse.
He announced he was leaving the hedge fund business with a rather hysterical letter…
http://www.fourhourworkweek.com/blog/2008/10/18/investment-series-preview-the-good-bye-and-f__k-you-letter/
I enjoyed reading this letter.
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