Andrew Lahde, head of Santa Monica, California-based Lahde Capital Management LLC, the hedge-fund manager who quit after posting an 870 percent gain last year, said farewell to clients in a letter that thanks stupid traders for making him rich.
"`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 sides of my trades. God Bless America." he wrote.
There you have it folks: PROOF! Harvard and Yale apparently produce really stupid people who screw things up in a monumental way!
When you head into the voting booth to elect a President next month please remember: George W. Bush went to Yale (and we see how he screwed the country up) but even worse. . . . . . . . .Barak Obama went to Harvard.
Do we really want another Ivy League moron doing more damage? No thanks.
Full story here