Harvard

By Katherine Burton

Oct. 17 (Bloomberg) -- Andrew Lahde, 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 and ends with a plea to legalize marijuana.

Eric Mindich, a former star Goldman Sachs trader, has succeeded in launching a hedge fund of more than $3bn (€2.3bn), one of the largest start-up funds on record. The successful start of Eton Park Capital comes despite heavy fees and other difficult terms for potential investors, according to The Wall Street Journal. James Hedges, president of LJH Global Investments, which invests in hedge funds and advises clients told The Wall Street Journal: "This is certainly the largest new fund I've seen in the last 15 years.