Eastbay1K:

Let me be clear and unequivocal: I LOVE my State—the Golden State.

I was born here and had grown up, in my estimation, not only in far and away the greatest State in the Union but also in the one of the greatest cities in the world. During year’s end, when our Compliance Dept submitted their budget request for next year because of this whatever that Gov Newsom signed in 2020, I flipped. What most probably don’t realize in polite society is the profanity that flies behind closed doors with the WS traders of my era—we don’t mince words in private.

We mind as well run our fund in the PRC with such an overreaching and overbearing regulatory regime now saddled with State statutory authority. The notion of paying an entire department to comply with the very newly minted regulators financed by the very fruits of my labor is a concept so profoundly absurd, I’d need a very good Therapist to help me come to grips with it.

I’m not opposed to sharing what I kill with those who lack the temerity to even venture out of the cave let alone hunt and kill anything when left to their own devices, but the pound of flesh exacted has reached a point where I’ve lost the self interest and motivation to hunt in the current environment.

It’s time to go.

PS - I'm not an emotional or sentimental guy but the finality of this decision has affected me in a very personal way that was entirely unexpected. I'm actually sad.