Today's Coming Crisis Movie

Tuesday, July 26, 2011

Soros to Stop Managing Money for Outside Investors (Because it's now Regulated, and Regulations are Yucky)

Hedge-fund titan George Soros's firm plans to stop managing money for outside investors and is returning less than $1 billion to clients, according to a letter his firm sent to shareholders and a person familiar with the matter. The fund currently manages more than $25 billion, the person said.

The firm also said that Keith Anderson, the chief investment officer of Soros Fund Management LLC since 2008, is leaving the firm in connection with its closing to outside investors. (more)