[...] Lahde Capital Management, a Santa Monica, California, firm with about $60 million under management, surged nearly 8 percent in August, also giving it gross returns of 410 percent year to date in its "Series A" strategy, according to a September 7 note to investors. Lahde made big bets that credit indices would fall. The ABX, which tracks baskets of bond issues, and other indices plummeted in recent months as concerns spread about widening home-loan credit defaults. Lahde this month launched a new fund called Commercial Real Estate Hedge LP, which is shorting commercial mortgage-backed indices (CMBX) on the view that the commercial real estate market could face problems similar to those of the residential market. [...] Maybe Bear Stearns and others should think about to incorporate Lahde or at least let them manage some funds... http://www.reuters.com/article/ousiv/idUSN1222288220070913
$5mm to 60mm...and growing. I tried keeping their name out of my post since the manager's performance wasnt publicly disclosed at the time.
one word... Leverage. Levered the shit out of 60M, and with a touch of luck - they made money. Could have easily been the other way around, but ....