Wotka World Wide

Sunday, October 26, 2008

37 year old hedge fund manager retires after betting heavily against the sub-prime mortgage market, earning one of his funds an 866% return last year. He publicly issued "an extraordinary farewell letter dismissing his rivals as over-privileged "idiots" and thanking "stupid" traders for making him rich."

More from him: "The low-hanging fruit, ie idiots whose parents paid for prep school, Yale and then the Harvard MBA, was there for the taking," he wrote. "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," he said.

Gotta love it!

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home