FYI: Athletes retire. Actors stop acting. Politicians stop politicking. And sooner or later, your favorite money manager is going to stop managing money. While some asset management firms build an organization that will survive the departure of an individual portfolio manager, many boutique asset management firms are built around and represent the ideas of one individual. When that one individual decices to pack it in, that’s it. The show is over. Money is sent back to investors and the firm is wound down. While this phenomenon may not necessarily be as common in traditional active management, this occurrence is relatively common with hedge funds.
Regards,
Ted
http://dailyalts.com/weekend-reading-what-to-do-when-a-manager-shuts-down/
