Michael Lewis slays us. Again. His latest fictional letter, this one from a defiant lion of a hedgie to his investors, is yet another must-read gem.
To: The Loyal Investors of The Fund
From: The Manager
Like a lot of hedge-fund guys, I’ve recently endured what might be misconstrued as a nervous breakdown.
Before CNBC or the New York Times or some other rag grabs the story and distorts it, I want to tell you about it myself — and explain not only my disappointing returns but also my prolonged absence. Just so you get it straight.
Anyone who runs several billion dollars of other people’s money, and one hundred million of his own, is likely to having moments of self-doubt. I don’t recall experiencing any myself, but I concede that others have.
My personal crisis was different: a single moment, earlier this year, when I doubted not myself, but the world we inhabit. If I was a different kind of guy or (God forbid) a chick, I might easily have gone all “Eat Pray Love” on you.
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