Monday, Oct 20, 2008
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply
" title="External Link" target="_blank">Portfolio: Hedge Fund Manager: Goodbye and F---- You
Andrew Lahde, manager of a small California hedge fund, Lahde Capital,
burst into the spotlight last year after his one-year-old fund returned 866 percent betting against the subprime collapse.
Last month, he did the unthinkable -- he shut things down, claiming dealing with his bank counterparties had become too risky.
Today, Lahde passed along his "goodbye" letter, a rollicking missive on everything from greed to economic philosophy. Enjoy.
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate.
Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding.
Instead, I am writing to say goodbye.
Posted by malct @ 11:36 AM (1083 views) Add Comment
36 Comments
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1. malct said...
I know, don't ASK here it is
http://www.portfolio.com/views/blogs/daily-brief/2008/10/17/hedge-fund-manager-goodbye-and-f-you
2. inbreda said...
link broke
3. inbreda said...
sorry malct!!
4. little professor said...
Damn. For a minute there I thought it was malct himself dropping out from this blog. Got my hopes up there.
5. pelethar said...
Ditto LP, haha. It was exciting for a few seconds though!
6. malct said...
no chance
7. stillthinking said...
A shame that he ruined his economic message by dragging in the entirely unconnected dope debate.
8. Stevie Dee said...
"Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp."
Really good docu-film on this subject:
http://joox.net/cat/2/id/12068
The Union: The Business Behind Getting High (2007)
Furthermore, the same rich kids (privileged) were being drug fed through an operation started by George Jung back in the 70's & early 80's. The film to watch is "Blow".
It is not inconveivable to believe that illegal drugs (cocaine, marijuana, heroin) and distribution, are now in the grasp of the powerful elite. This is nothing new, we just have to look back at the opium wars.
I was watching Bloomberg the other day, and they announced that biggest cash crop in California is now marijuana. What is also ironic, is that in relation to opium/heroin production, there is a big deal made about Afghanistan, yet we here of legal plantations in Tasmania or India & elsewhere where production is used for legitimate pharmaceutical purposes. I remember talking to an Indian Masters Grad from Bangalore on this topic, he just grinned after I said that these drugs could quite easily be diverted to enter the "Black Market".
(End of Rant)
9. sold 2 rent 1 said...
stillthinking,
"A shame that he ruined his economic message by dragging in the entirely unconnected dope debate."
Is the reason you think "illegal hemp" is unconnected is because you haven't made the connection yet?
keepthinking.
10. malct said...
7. stillthinking said...
A shame that he ruined his economic message by dragging in the entirely unconnected dope debate.
Monday, October 20, 2008 12:20PM
stillthinking, sorry but this is simply not true.
His comments refer to HEMP which is of HUGE economic significance both historically, politically, financially and from a humanitarian and ecological perspective.
11. p. doff said...
The letter was mildly interesting until the topic inexplicably changed to Hemp. Lost all credibility then - I was just waiting for the claim that it cured all known types of cancer. Mind you, in some forms it could change your consciousness I suppose!!!
Screw up into a ball and toss into the conspiracy bin.
Malct, how much of the day do you spend trawling through this stuff on the net to find enough cr@p to post?
12. malct said...
His comments refer to HEMP which is of HUGE economic significance both historically, politically, financially and from a humanitarian and ecological perspective.
but anyway why approach with blind critisism one part of the article which you don't understand and ignore the rest of the information he is offering? p.doff, you really haven't a clue have you?
13. malct said...
Hemp Homes could be the future
Hemp is a versatile material used for paper, health food supplements, fabric and a growing list of other uses. Add to the list a new use - environmental freindly building materials.
A wide variety of construction materials can be made from Hemp fiber, such as composite fiber board which is both lighter and stronger than comparable wood products, 2x4's, lightweight concrete substitutes that have both insulative and soundproofing qualities. Isochanvre, a French company has built over 250 hemp homes. They have combined Hemp fiber with lime to create a thermal and acoustical barrier which is stronger and 7x lighter than concrete!
A Suffolk-based study into using the material to build environmentally-friendly homes has found hemp to be the ideal choice and, although more expensive than conventional brick and block, experts are sure the costs will fall.
The social housing organization in Suffolk, England has completed a test project that studied the environmental impact, energy use and other factors of hemp housing in comparison to more traditional construction methods.
The project involved the construction of eighteen dwellings, 16 of which were built using
conventional construction methods and materials but two of which were of a form of
construction referred to as Hemp.
14. nooneo said...
Stillthinking.......
Indeed, hemp apart from arguably being the first cultivated plant, has enormous benifits for all.
It's oil, fibres and chemical properties have hardly been utilised. It could be described as a miracle plant for all the assets and benefits we could glean from it. Perhaps people should read up a little more about Hemp (or dope) rather than just refering to it in an insulting way. If you think this chap scuppers his argument by referring to it perhaps it's because you're limited intellects can't conceive that anything as simple as a plant could actually change anything.
Personally I think that hemp could do a damn sight more good for the planet than a completely made up fairy story like Jesus and chritianity has done !
p.doff - If malct wants to post stuff, the relevence of it is hardly your concern. I'm sure the webmasters have pulled plenty of his posts, but I find more than a few of them very enlightening.
stillthinking - as s2r1 said - keepthinking , you need the practise !
15. p. doff said...
Nooneo. You seem to object to me expressing an opinion on postings lately. What on earth is a blog site for then?
OK, Hemp, fine, another natural material with many uses including building. Add it to cob, mud, cordwood, strawbale, cedarwood, wicker, thatch, wattle & daub etc. People have built using just about anything since the dawn of time. I don't see Hemp saving the planet though, or curing cancer either.
Now I would agree with you about religion, although I might question it's relevance here, if I were allowed an opinion.
TTFN
16. nooneo said...
p.doff @ 15
"Nooneo. You seem to object to me expressing an opinion on postings lately. What on earth is a blog site for then? " - Don't take it personally p.doff. I thinks it's what's called in the trade a "difference of opinion". It's when someone expresses and opinion and then someone else differs with that opinion and then expresses their own.
p.doff @ 11
You see my opinion was based on your crass dismissal of the subject article.
"The letter was mildly interesting until the topic inexplicably changed to Hemp. Lost all credibility then " - My objection to this particular comment was that you seem perfectly OK when the chap made 833% in a single year with his hedge fund betting against the sub-prime collapse but when he starts banging on about other things that became unacceptable.
So it appears that it is OK to boast about making a truckload of money from other peoples misfortune, but not to talk about hemp. In these days of turmoil and growing concern over the environement and possible climate change anyone who tries to promote things that might actually make the world a better place appears, to me at least, to be worth a listen.
And even in your last post (15) you are just linking hemp with some relatively inert building materials and your tone was again dismissive.
If you knew anything about hemp (which you obviously don't) you would realise that pharmacaeutical companies (very small business that one!) all over the world are extremely busy breaking down the psycho-active properties of the substance because they know that it potentially has thousands of medical and neurological applications. The fibre of the hemp plant is actually more adept at cloth production than cotton (very small business the cotton industry!) and the oil production will possibly be the most cost effective bio-fuel that the plant world can give us. Go and do a search on Multiple Scherolisis website and see what the raw drug does for sufferes of this terrible wasting desease. Go and do a search on glaucoma sufferers (particularly in the US as they allow sufferers of both these ilnesses to take marijuana) who have been prevented from going blind by taking the drug.
"I don't see Hemp saving the planet though," - It very probably won't. But your inability to actually express anything other than distain for the plant does how you know very little about the it.
Please read these:
http://www.bioregional.com/programme_projects/pap_fibres_prog/hemp%20textiles/hemp_stats.htm
http://www.defra.gov.uk/farm/crops/industrial/pdf/flaxhemp-report.pdf
Hemp is more environmentally friendly to grow than cotton. It produces more oil per acre than any other oil producing plants including rapeseed and sunflowers. It can grow in more adverse conditions than both cotton and sunflowers and the by-products of oil production (mainly fibres) can be utilised for many, many products. In fact it is an astonishing plant, being utilised in increasing amounts because of it's financial, environmental and pharmaceutical properites.
So it is a bit condescending to just dismiss this part of the article because it doesn't fit in with your view of the world.
17. p. doff said...
WTF?
18. p. doff said...
Nooneo, you are ranting uncontrollably. Have you been on the St Ella again?
Try to keep your comments shorter - say too much and you risk shooting yourself in the foot (as happened above). Also, too much waffle and the reader just gets bored.
I would also recommend that you read people's comments more carefully before adding your sixpennyworth. You have a habit of not grasping what has been said.
Good day.
19. pelethar said...
As I've stated many times on this site, my opinion is that if it's not relevant to HPC then don't post it here. I bet there are a zillion hemp websites where this would have fit perfectly. Why not post them there? If it's all about what's interesting, then why don't we just start threads about the US presidential race? Or Liverpool's championship credentials?
The real reason is that the very vocal minority of posters on this site have created a culture where articles on subjects which appeal to conspiracy theorists are welcomed, and any dissenting voices are aggressively shouted down. It's a shame.
20. malct said...
19. pelethar said...
"As I've stated many times on this site, my opinion is that if it's not relevant to HPC then don't post it here"
Pelethar, you are of course entitled to your own opinion, but fortunately not entightled to determine what is and what is not relevant.
The article I posted gives an insight into the activities that brought us house price inflation and now an historic economic meltdown and panic.
If the man wants to mention the economics of hemp, that's fine by me, because I understand what he is on about.
Sadly stillthinking understandably made a connection with DOPE suggesting he was not aware of the extreme economic significance.
It is perhaps ironic that an increasing list of hemp products are being used in house building.
21. malct said...
p.doff, what's up did nooneo confuse you?
22. This comment has been removed as it was found to be in breach of our Blog Policies.
23. p. doff said...
21. malct said...
''p.doff, what's up did nooneo confuse you?''
Ah, Malct - one of the very vocal minority - right on cue.
No, he didn't, but I think Nooneo confused himself!!!
Agree with Pelethar.This site has become polarised between the conspiraloons and ''any dissenting voices''.
Real debate has obviously become pointless. Now it's just good for a laugh when one desires some light relief.
Watch out -- THEY'RE BEHIND YOU!
24. sold 2 rent 1 said...
nooneo,
I agree with your post.
You must understand that different people's consciousness will change at different rates. We are not entirely in control of our own thoughts but eveyone still has a choice. There is plenty of time for people to change their views but there will be some who cling to the old world and these people will sadly not make it to global enlightenment.
Hemp has such a key role in the future...but not as much as monatomic gold... but that is another story altogether.
25. malct said...
p.doff - you really have been left behind here haven't you?
nooneo is spot on - you on the other hand don't seem to have a grip on what's really going on.
nooneo is so right, you never come up with anything to back up your personal opinion.
other than abuse of course. On this thread you are hopelessly out of touch. Conditioned some would say.
26. p. doff said...
Ah Nooneo - you're back, along with S2R1. All we need is P4AC for the full board meet, or should that be bored meet.
I see I have you all rattled and resorting to insults.
My work here is done. I can chuckle my way to bed tonight happy in the knowledge that the conspiraloons will be having sleepless nights looking over their shoulder for the MI6 bogeyman.
Your choice guys. I know what I'd rather be doing.
27. This comment has been removed as it was found to be in breach of our Blog Policies.
28. nooneo said...
p.doff
and I would still have ten p4ac's, malcts and s2r1s over you any day for two simple reasons.
They have an opinion and are prepared to back them up and they try, by and large, to make coherent counter arguments when people disagree!
I think it's called having a mind of your own !
29. nooneo said...
and your comment about resorting to insults....
"Nooneo, you are ranting uncontrollably. Have you been on the St Ella again?" - Have you read your posts here?
I don't think you've even bothered reading my posts before commenting on them.
30. p. doff said...
Yep. decidedly rattled!
This is fun. Pointless but fun.
31. This comment has been removed as it was found to be in breach of our Blog Policies.
32. p. doff said...
31. nooneo said...I'm insane !
Ah, that explains it. But you are not alone. Where are you Malct by the way.
I shall make allowances for you from now on. May I suggest however that you avoid sites such as this. They do nothing to promote sanity and calm.
33. Gardeniadotnet said...
I have a contribution to make regarding the hemp issue.
I'm almost ready.
Thanks for your patience.
34. p. doff said...
Hi there Gardenia. Have you come for a play in cyberspace as well? The nightshift has started then, and it must be my bedtime. Can we expect an announcement on the cloning soon?
Nooneo. I take it you were joking. I'm having visions of you lobbing your PC out the window in a blind rage and it's worrying me. Don't forget, none of the personas you encounter here are real. That's the beauty of cyberspace - we can all be somebody different if we wish. You could be an ex offender and I could be a hairy biker for all anybody knows. All I will say is that I made a decision not to be drawn into arguments on this site, as IMHO it is pointless. I'm up for a bit of banter from time to time - just for fun you understand, and no real offence intended.
35. nooneo said...
p.doff
I promise not to take life too seriously also. I think things got a little heated and I have to accept my part in that.
The part that really makes me mad is this friggin house price bubble crap thing. It's absolutely no use to all of us.
Night night john boy....
....night night nooneo.......
Damn I'm talking to myself now !
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