Hedge fund legend Stanley Druckenmiller, founder of the $12 billion Duquesne Capital Management, is ending one of the most successful runs in hedge fund history. “I have had to recognize that competing in the markets over such a long time frame imposes heavy personal costs,” Druckenmiller wrote in a one-page letter announcing his plans to retire and close his firm, also citing the challenges of running a large fund. Duquesne was reportedly down 5% in 2010, which would be the fund’s first losing year in 30 if the firm did not snap back by year end, having returned an average 30% annually since 1986. AR profiled Druckenmiller in 2006, predicting that Duquesne wouldn’t outlast its founder. To view that story, visit institutionalinvestor.com. Lawrence Delevingne
