Crain’s – The urge to close down a fund is always there because hedge funds are a high-stress occupation, and the moguls you mentioned have plenty of their own money.
But leaving the business is hard. Soros tried to shut himself out of his fund back around 1984 and returned when the person he handed it over to didn’t do very well. Likewise, Julian Robertson quit in 2000 because he said he didn’t understand the markets anymore. But since then, he’s seeded a lot of new funds and in some ways is bigger in the business than ever.
