Andrew Lahde

- Retired head of Lahde Capital Management LLC
- Based in Los Angeles, CA
- Hedge fund managed: US Residential Real Estate Hedge V Class A

Andrew Lahde is a successful hedge fund manager who retired from his profession with an open letter published on October 17, 2008. In the letter, he assailed the leaders of the home mortgage industry as "idiots whose parents paid for prep school, Yale, and then the Harvard MBA."HedgeFund.net: From Lahde, a Not-So-Fond Farewell (October 17, 2008) Lahde managed a real estate hedge fund that has reaped an 866% return to its investors by betting against the solvency of the failing subprime loan market.Financial Times: 1000% hedge fund wins subprime bet (November 25 2007) The strategy caused his fund to emerge as one of the most successful of all time.Financial Times: 1000% hedge fund wins subprime bet (November 25 2007)
Controversial Letter

The following excerpts are from Lahde's October 2008 letter signaling his retirement.
"I am content with my rewards... I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck."Portfolio.com: Hedge Fund Manager: Goodbye and F---- You (October 17, 2008)
"I was in this game for money. The low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale and then the Harvard MBA...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."Portfolio.com: Hedge Fund Manager: Goodbye and F---- You (October 17, 2008)
"All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other sides of my trades. God Bless America.''Portfolio.com: Hedge Fund Manager: Goodbye and F---- You (October 17, 2008)