Hedge fund manager Andrew Lahde calls it quits - and backs hemp production

 

Andrew Lahde's hedge fund at Lahde Capital Management earned an 866 percent return in the past year. He bet against the subprime mortgage market, and won as that market decimated the financial sector.

Ladhe closed the fund last month. And today he called its quits, and announced his "retirement" in a letter ripping his profession and many of those who run it. An excerpt:

"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. 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."

Lahde also called for the production of hemp as an alternative energy source - and noted how the criminalization of marijuana ("It gets you high, it makes you laugh, it does not produce a hangover") is likely due to a governmental and corporate conspriracy designed to aid drug companies.

He also tells his contemporaries to "throw the Blackberry away and enjoy life."

More fascinating fallout from the market collapse.