Running a hedge fund loses its allure

While the three men gave different explanations for getting out of the industry, a common theme seems to be that running a hedge fund may not be worth the headache. Tumbling stock prices and a credit crunch have created volatile markets, and that has translated into losses at many hedge funds.

With the wind of a credit bubble at their backs, even turkeys were able to fly. The ones (perhaps few) that will remain must actually be good at actually hedging in conditions that are far from deterministic.