http://www.marketwatch.com/story/soros-to-wind-down-hedge-fund-operation-report-2011-07-26?dist=beforebell
CHICAGO (MarketWatch) -- George Soros, the wartime Hungarian emigre who went on to become not only one of the world's most famed investors and one of the world's richest men but also a prolific author and philanthropist, is hanging up his hedge-fund hat, Bloomberg News reports. The 80-year-old Soros -- whose Soros Fund Management has served as primary adviser to the Quantum hedge funds, established by Soros in 1969 -- is perhaps best known for having "broken" the Bank of England by aggressively, and successfully, betting against the pound in 1992. He made news early this year for having sold the bulk of his firm's stake in gold and silver, having called gold in September 2010 "the ultimate bubble." In a letter expressing gratitude to Soros Fund Management investors, Soros's sons Jonathan and Robert, both executives with the firm, said the firm would return to outside investors their approximately $1 billion in invested cash and continue to operate the business as a family office rather than an investment firm.
how will this affect mgo?
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