Duquesne Capital Management to Shut Down

Stanley Druckenmiller of Duquense Capital Management
Dozens of hedge funds have closed already in 2010, and now you can add Duquesne Capital Management to that list. The $12 billion hedge fund run by billionaire Stanley F. Druckenmiller has not had a losing year and has averaged 30 % annually (though the fund is down 5% this year).

Duquesne returned about 11 percent in 2008, when hedge funds on average lost a record 19 percent. It rose about 10 percent in 2009, when the average return was 20 percent.

Druckenmiller is quitting the fund to pursue philanthropic goals.

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