Saturday, October 18, 2008
The Goodbye and F-You Letter
Written by Andrew Lahde
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.
Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, “What I have learned about the hedge fund business is that I hate it.” I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. 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.
There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.
I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don’t worry about my employees, they were always employed by Mr. Springer’s company and only one (who has been well-rewarded) will lose his job.
I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life — where I had to compete for spaces in universities and graduate schools, jobs and assets under management — with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.
On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man’s interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft’s near monopoly. I believe there is an answer, but for now the system is clearly broken.
Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won’t see it included in BP’s, “Feel good. We are working on sustainable solutions,” television commercials, nor is it mentioned in ADM’s similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. 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. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won. At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? Ah, the female. The evil female plant — marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You would not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let’s stop the rhetoric and start thinking about how we can truly become self-sufficient.
With that I say good-bye and good luck.
All the best,
Andrew Lahde
http://www.fourhourworkweek.com/blog/2008/10/18/investment-series-preview-the-good-bye-and-f__k-you-letter/
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.
Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, “What I have learned about the hedge fund business is that I hate it.” I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. 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.
There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.
I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don’t worry about my employees, they were always employed by Mr. Springer’s company and only one (who has been well-rewarded) will lose his job.
I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life — where I had to compete for spaces in universities and graduate schools, jobs and assets under management — with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.
On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man’s interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft’s near monopoly. I believe there is an answer, but for now the system is clearly broken.
Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won’t see it included in BP’s, “Feel good. We are working on sustainable solutions,” television commercials, nor is it mentioned in ADM’s similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. 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. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won. At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? Ah, the female. The evil female plant — marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You would not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let’s stop the rhetoric and start thinking about how we can truly become self-sufficient.
With that I say good-bye and good luck.
All the best,
Andrew Lahde
http://www.fourhourworkweek.com/blog/2008/10/18/investment-series-preview-the-good-bye-and-f__k-you-letter/
Monday, October 13, 2008
Thursday, October 9, 2008
100 Skills Every Man Should Know
http://www.popularmechanics.com/home_journal/how_to/4281414.html
Automotive
1. Handle a blowout
2. Drive in snow
3. Check trouble codes
4. Replace fan belt
5. Wax a car
6. Conquer an off-road obstacle
7. Use a stick welder
8. Hitch up a trailer
9. Jump start a car
Handling Emergencies
10. Perform the Heimlich
11. Reverse hypothermia
12. Perform hands-only CPR
13. Escape a sinking car
Home
14. Carve a turkey
15. Use a sewing machine
16. Put out a fire
17. Home brew beer
18. Remove bloodstains from fabric
19. Move heavy stuff
20. Grow food
21. Read an electric meter
22. Shovel the right way
23. Solder wire
24. Tape drywall
25. Split firewood
26. Replace a faucet washer
27. Mix concrete
28. Paint a straight line
29. Use a French knife
30. Prune bushes and small trees
31. Iron a shirt
32. Fix a toilet tank flapper
33. Change a single-pole switch
34. Fell a tree
35. Replace a broken windowpane
36. Set up a ladder, safely
37. Fix a faucet cartridge
38. Sweat copper tubing
39. Change a diaper
40. Grill with charcoal
41. Sew a button on a shirt
42. Fold a flag
Medical Myths
43. Treat frostbite
44. Treat a burn
45. Help a seizure victim
46. Treat a snakebite
47. Remove a tick
Military Know-How
48. Shine shoes
49. Make a drum-tight bed
50. Drop and give the perfect pushup
Outdoors
51. Run rapids in a canoe
52. Hang food in the wild
53. Skipper a boat
54. Shoot straight
55. Tackle steep drops on a mountain bike
56. Escape a rip current
Primitive Skills
57. Build a fire in the wilderness
58. Build a shelter
59. Find potable water
Surviving Extremes
60. Floods
61. Tornados
62. Cold
63. Heat
64. Lightning
Teach Your Kids
65. Cast a line
66. Lend a hand
67. Change a tire
68. Throw a spiral
69. Fly a stunt kite
70. Drive a stick shift
71. Parallel park
72. Tie a bowline
73. Tie a necktie
74. Whittle
75. Ride a bike
Technology
76. Install a graphics card
77. Take the perfect portrait
78. Calibrate HDTV settings
79. Shoot a home movie
80. Ditch your hard drive
Master Key Workshop Tools
81. Drill driver
82. Grease gun
83. Coolant hydrometer
84. Socket wrench
85. Test light
86. Brick trowel
87. Framing hammer
88. Wood chisel
89. Spade bit
90. Circular saw
91. Sledge hammer
92. Hacksaw
93. Torque wrench
94. Air wrench
95. Infrared thermometer
96. Sand blaster
97. Crosscut saw
98. Hand plane
99. Multimeter
100. Feeler gauges
Automotive
1. Handle a blowout
2. Drive in snow
3. Check trouble codes
4. Replace fan belt
5. Wax a car
6. Conquer an off-road obstacle
7. Use a stick welder
8. Hitch up a trailer
9. Jump start a car
Handling Emergencies
10. Perform the Heimlich
11. Reverse hypothermia
12. Perform hands-only CPR
13. Escape a sinking car
Home
14. Carve a turkey
15. Use a sewing machine
16. Put out a fire
17. Home brew beer
18. Remove bloodstains from fabric
19. Move heavy stuff
20. Grow food
21. Read an electric meter
22. Shovel the right way
23. Solder wire
24. Tape drywall
25. Split firewood
26. Replace a faucet washer
27. Mix concrete
28. Paint a straight line
29. Use a French knife
30. Prune bushes and small trees
31. Iron a shirt
32. Fix a toilet tank flapper
33. Change a single-pole switch
34. Fell a tree
35. Replace a broken windowpane
36. Set up a ladder, safely
37. Fix a faucet cartridge
38. Sweat copper tubing
39. Change a diaper
40. Grill with charcoal
41. Sew a button on a shirt
42. Fold a flag
Medical Myths
43. Treat frostbite
44. Treat a burn
45. Help a seizure victim
46. Treat a snakebite
47. Remove a tick
Military Know-How
48. Shine shoes
49. Make a drum-tight bed
50. Drop and give the perfect pushup
Outdoors
51. Run rapids in a canoe
52. Hang food in the wild
53. Skipper a boat
54. Shoot straight
55. Tackle steep drops on a mountain bike
56. Escape a rip current
Primitive Skills
57. Build a fire in the wilderness
58. Build a shelter
59. Find potable water
Surviving Extremes
60. Floods
61. Tornados
62. Cold
63. Heat
64. Lightning
Teach Your Kids
65. Cast a line
66. Lend a hand
67. Change a tire
68. Throw a spiral
69. Fly a stunt kite
70. Drive a stick shift
71. Parallel park
72. Tie a bowline
73. Tie a necktie
74. Whittle
75. Ride a bike
Technology
76. Install a graphics card
77. Take the perfect portrait
78. Calibrate HDTV settings
79. Shoot a home movie
80. Ditch your hard drive
Master Key Workshop Tools
81. Drill driver
82. Grease gun
83. Coolant hydrometer
84. Socket wrench
85. Test light
86. Brick trowel
87. Framing hammer
88. Wood chisel
89. Spade bit
90. Circular saw
91. Sledge hammer
92. Hacksaw
93. Torque wrench
94. Air wrench
95. Infrared thermometer
96. Sand blaster
97. Crosscut saw
98. Hand plane
99. Multimeter
100. Feeler gauges
Wednesday, September 24, 2008
Harmony House Freeze Dried Foods
http://www.harmonyhousefoods.com/
Great for anyone who loves the outdoors or does not like shopping alot... Frozen and dried foods are enevitably healthier than most "fresh" produce you purchase at the grocery store. This is becasue fruits and vegatbales are picked fresh (maximum nutirent absorption) for long life preparation. Whereas grocery store produce is usually picked before it is ripe (minimizing nutrient absorption) to increase saleability.
FYI about induction ranges http://theinductionsite.com/
Great for anyone who loves the outdoors or does not like shopping alot... Frozen and dried foods are enevitably healthier than most "fresh" produce you purchase at the grocery store. This is becasue fruits and vegatbales are picked fresh (maximum nutirent absorption) for long life preparation. Whereas grocery store produce is usually picked before it is ripe (minimizing nutrient absorption) to increase saleability.
FYI about induction ranges http://theinductionsite.com/
Tuesday, September 23, 2008
Monday, September 8, 2008
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