BusinessWeek – An older generation of hedge fund heavyweights, including Julian Robertson and Michael Steinhardt, shut their firms after deciding they no longer wanted to invest money for clients. Some of today’s most successful hedgies are surrounding themselves with experienced traders in an effort to keep clients from pulling out after they stop running the funds.
Steven A. Cohen, the 54-year-old founder of SAC Capital Advisors, picked four people from his staff earlier this year to help choose investments for the $2 billion he personally oversees at his firm.
