The most successful hedge fund manager has finally reached the end of the hedge fund life cycle. Aged 80, George Soros does not want the hassle of new regulations for US hedge funds. Instead, after 38 years his Quantum fund is ejecting investors to run only the family inheritance.
The move will be mourned by anyone whose money Mr Soros has managed. He has turned $100,000 in 1973 into just over $100m, average annual growth of 20 per cent. The return was about 102,000 per cent, before inflation.
The only comparable manager is Warren Buffett, who is 18 days older. Berkshire Hathaway has increased book value per share by 135,000 per cent over the same period.
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