Andrew Lahde Net Worth is
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Date of Birth: 1971
Andrew Lahde is an American former hedge fund manager with a net worth of $500 million. Andrew Lahde acquired that wealth by managing hedge funds and earning nearly 1000% return rates, which he is most famous for, on speculation concerning the increase of U.S. subprime mortgages. He retired in 2008.
Andrew Lahde (born 1971) was a California-based hedge fund manager who in 2007 earned some fame for achieving return rates in the vicinity of 1000% with his Lahde Capital, based in Santa Monica, California. The fund speculated on increases of U.S. subprime mortgage defaults. He earned a bachelor's degree in finance from Michigan State University and an MBA from the Anderson School of Business at the University of California Los Angeles. Lahde's hedge fund strategy was based on his knowledge of real estate, real estate finance, the complex world of securitized real estate finance and various financial vehicles associated with the transactions. What differentiated Lahde from many other hedge fund operations was an understanding of the underlying asset, residential real estate.
In September 2008, Lahde closed his fund, telling investors that credit problems - the basis of his profits - were likely to continue, but that the possibility of defaults by counterparties was too high. On October 17, he released an open good-bye letter to his investors, in which he said that the "low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking." Lahde criticized the harried life of the rich, and said that "Capitalism worked for two hundred years, but times change, and systems become corrupt." He suggested that George Soros "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", which could be based on Meritocracy. He concluded his letter by proposing to legalize hemp (but not necessarily marijuana), saying that hemp had been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products, and thus should be part of making the U.S. "truly become self-sufficient". He also said that marijuana is only kept illegal because "Corporate America, which owns Congress, would rat

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Andrew Lahde Latest News

Subprime Short Seller Preps Credit Hedge Fund

After his residential real estate and commercial real estate hedge funds gained whopping 1,000% and 80%, respectively this year (see previous story), Andrew Lahde is launching a new hedge fund to further capitalize on the credit crunch. The new vehicle ...
Posted: November 28, 2007, 10:00 am

Tired of your boss? Five ways to resign in style

In 2008, Andrew Lahde took to the pages of the Financial Times to announce the dissolution of his company Lahde Capital Management. In the process, he tore through the likes of Bear Stearns, Lehman Brothers and AIG, with less than flattering words for ...
Posted: October 4, 2013, 8:13 am

14 of the most dramatic resignation letters of all time

My intent is to keep none of the money myself." Hedge fund manager Andrew Lahde's viral letter appeared in the Financial Times on Oct. 17, 2008, when he explained why he was winding down Lahde Capital. "Today I write not to gloat," he began. "Given the ...
Posted: August 23, 2015, 3:00 am
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