Elm Ridge 1Q19 Letter: “Madoff Or Laid Off”

Elm Ridge letter to investors for the first quarter ended March 2019, titled, “Madoff Or Laid Off.” Q1 hedge fund letters, conference, scoops etc Reward Without Risk: Decade at Bernie’s “The risk for me would be in not taking one – that’s the only thing that’s really risky for me. –Kanye West “The only time you can be completely free from risk is when you’re in prison.” –Edward Snowden The fact that the best risk quotes I could find are from Kanye and Edward Snowden should tell me something. In any case, I recently received a text from an artist…