Does a 1,000% gain make a hedge fund manager a genius or a contrary indicator? - Lahde Capital

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Does a 1,000% gain make a hedge fund manager a genius or a contrary indicator? - The Curious Capitalist - Justin Fox - Economy - Markets - Business - TIME: "However, Mr Lahde ... has now begun to return money to investors, telling them in a letter: “The risk/return characteristics are far less attractive than in the past.” In his letter, Mr Lahde said he expected the collapse in value of subprime mortgage-linked securities to be repeated for bonds backed by commercial property loans in a deep recession – which he also predicts. “Our entire banking system is a complete disaster,” he wrote. “In my opinion, nearly every major bank would be insolvent if they marked their assets to market.” He also said he would be putting some of his own profits into gold and other precious metals."

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