Bloomberg reports that the hedge fund industry may slash up to 10,000 jobs soon, on top of the 3,000 to 5,000 jobs that have already been cut. This was hardly expected. The golden era of hedge funds is fading fast, and for some this is a good thing. Unless you just love it, it can be a terrible life. Andrew Lahde, manager of smallish hedge fund Lahde Capital, made a name for himself by betting on a subprime collapse. Now he's making news for calling it quits. From his resignation letter: "I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point?" This goes for a lot of Wall Streeters. In the end, many of the most bitter may end up the most thankful when they find a better life.

For more:
- here's the Bloomberg article
- here's the Lahde note via Portfolio

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