Of course, we loved bringing you the marijuana defending, tired-of-you-stupid-limited-partners-already, I'm picking up my toys and going home farewell letter of former hedge fund manager Andrew Ladhe. Our referring you to the coverage of said letter by Michael Lewis (really, don't you think he's gotten very bittery-sour-grapes-like about markets since Liar's Poker?) is more a duty-bound kind of obligation. Still, it has its moments.
We fully expect that the likes of Lewis (and market schadenfreuden everywhere) will get quite vocal in the weeks to come. Might as well get used to it now.
This Hedge Fund Manager Tries to Short Himself [Bloomberg]
Posted by guest , Oct 24, 2008 8:28AM
link broken, couldn't read
Posted by guest , Oct 24, 2008 8:29AM
Same fate as #1
Posted by ep , Oct 24, 2008 8:33AM
My error. Sorry. Should be corrected now.
Posted by guest , Oct 24, 2008 8:39AM
Sell on the 142!
Posted by guest , Oct 24, 2008 8:50AM
Poor effin' baby
Posted by VOL IS KING , Oct 24, 2008 8:50AM
PURE GOLD
"If you haven't figured it out by now, America has hired the wrong Paulson. There are two of them, Hank and John. Hank turned Goldman Sachs from an investment bank into a busload of tourists going to a casino, with borrowed money.
Goldman might have been the smartest investment bank but you only needed to see Dick Fuld testify before a congressional committee to know how much that means. No pun intended, but Dick didn't know dick.
Astute observers will note that every time they run across a party of midgets, one is tallest, and his name is usually Goldman. Suffice it to say that while Hank's shop was creating subprime mortgage-backed bonds, John's was shorting them. Hank wound up working for the government, John wound up making $3.7 billion. For himself."
Posted by guest , Oct 24, 2008 8:50AM
and no one wants to buy Volvo heavy trucks. Volvo said it received 115 order bookings for heavy trucks in Europe in the quarter, down from 41,970 trucks a year earlier. fwiw.
Posted by guest , Oct 24, 2008 8:55AM
@4 SOLD!
Posted by IA , Oct 24, 2008 9:02AM
I love all of Lewis' books, but his bloomberg columns are absolutely insufferable.
Posted by guest , Oct 24, 2008 9:04AM
A+ for the Trading Places reference.
Posted by guest , Oct 24, 2008 9:05AM
Does he really run a hedge fund now, or was that purely satire?
I feel really dumb for asking that.
Posted by VOL IS KING , Oct 24, 2008 9:06AM
@11:
yes to the second statement.
Posted by guest , Oct 24, 2008 9:09AM
WTF? we are facing one of the most dismal days in trading history, and the best we get from DB is a lame article from Lewis? And the comments are no better. Is everyone cowering in a corner, lying on a pool of their own urine???
Posted by guest , Oct 24, 2008 9:10AM
Michael Lewis is to financial reporting what Le Carre is to the spy genre:repetitive,cynical,superficial and tedious.He's of marginal talent where irony now trumps understanding.
Posted by guest , Oct 24, 2008 9:11AM
what an arrogant fuck
Posted by guest , Oct 24, 2008 9:16AM
your jealousy makes him smile
you hate him cause he's right
all the real traders made money during this extravaganza
anyone can make money in a bull market....
Posted by Clown Capital , Oct 24, 2008 9:18AM
LOL. Bloomberg gave Michael and silk slap to the face. "Imaginary" hedge fund manager!? lol. A nicer synonym such as fictional would have been just fine.
I agree with IA. His column is reproachful.
Posted by guest , Oct 24, 2008 9:19AM
Yes. I am jealous of an uppity, dope smoking millioniare.
Posted by guest , Oct 24, 2008 9:20AM
john paulson is a genius. Except for his love of Joy Behar, he's the man.
Posted by guest , Oct 24, 2008 9:20AM
Mike Lewis is sweet. My only beef with him is that he was in Ivy. Bicker a real club, Lewis.
Posted by Phobos , Oct 24, 2008 9:22AM
@13
Find your sack kid.
Posted by guest , Oct 24, 2008 9:22AM
EP, why do you hate on Michael Lewis all the time?
Posted by guest , Oct 24, 2008 9:23AM
Where is "McGruber" when we need him?? The market is falling!!
Posted by guest , Oct 24, 2008 9:26AM
Think big, think positive, never show any sign of weakness. Always go for the throat. Buy low, sell high. Fear? That's the other guy's problem. Nothing you have ever experienced will prepare you for the absolute carnage you are about to witness. Super Bowl, World Series - they don't know what pressure is. In this building, it's either kill or be killed. You make no friends in the pits and you take no prisoners. One minute you're up half a million in soybeans and the next, boom, your kids don't go to college and they've repossessed your Bentley. Are you with me?
Posted by guest , Oct 24, 2008 9:26AM
@18
we're all jealous of someone who's accomplished the american dream
Posted by guest , Oct 24, 2008 9:35AM
i'm starting to think that's there's a corrolation between successful trading and weed. any thoughts???
Posted by guest , Oct 24, 2008 9:46AM
Goes easy on Mike. At the time of the BSC rescue, he said in print to all the IB'S out there, "You're all commercial bankers now." I wonder if even HE knew how right he was. The bankers ignored that statement at their peril.
Posted by guest , Oct 24, 2008 10:24AM
@26
see jimmy cayne
maybe just an outlier?
Posted by guest , Oct 24, 2008 10:33AM
@10, I second that. Well done EP.
"May I suggest using your nightstick, officer?"
-BeckyBootFan
Posted by guest , Oct 24, 2008 6:56PM
Balls on with Lewis. Love your books, but maybe it is time to just go back to Berkeley with that cunt wife Tabitha of yours, hide out in your yoga studio and blow Kurt Loder. Hey Mike you got yours leave us the fuck alone to get ours dick head. It was me puking, not on the floor but on my desk reading that asshole.