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FSN interview: Richard Eckert (Lahde Capital)

There's a great interview in the latest Financial Sense Newshour with Richard Eckert, the former CFO/risk manager at Lahde Capital Management.

The interview topic: "The Greatest Trade Ever: An insider's behind the scene view of how a hedge fund made millions out of the credit collapse."

For those who don't recall, Lahde Capital is the small Santa Monica hedge fund set up by Andrew Lahde, which profited mightily from short bets on the subprime housing market. After raking in his dough, Lahde famously kissed the hedge fund world goodbye in a widely circulated, and widely discussed, farewell letter to clients.

Lahde is also one of the main investors profiled in Gregory Zuckerman's book, The Greatest Trade Ever, a treasure trove of information on the subprime crash and the hedge fund managers who profited in the downturn.

As I come to the end of Zuckerman's book, one thing that I'm totally struck by are the obstacles that investors like Andrew Lahde, Michael Burry, and John Paulson met in executing their subprime trades and keeping those trades on in the face of financial worries, personal doubts, and total opposition to their ideas from nearly everyone they came in contact with (including their own investors).

How did they maintain their vision and stay with their winning trades until the end? That's an interesting subject, and perhaps FSN's interview with Richard Eckert will shine a little added light on that, and other aspects of Lahde's trade as well. Enjoy.

Related posts:

1. Michael Lewis on Charlie Rose: The Big Short - Finance Trends.

2. Michael Burry: Betting the Blind Side - Finance Trends.


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