Hedgefund Veteran Stanley Druckenmiller Closing Duquesne Capital

Hedge funds recently have been struggling for profits because of the current trading environment. The race for profits seem to be getting more and more crowded with a key players dropping out of the race.

Today hedge fund veteran Stanley Druckenmiller announced he is closing Pittsburgh Duquesne Capital after 30 years in business. Stanley cited "high emotional toll" as a reason for the decision. The fund had around 100 clients which totaled around 12$ billion in assets. The fund gained about 11% in 2008, for 2010 the fund is down around 5% according to the wall street journal.

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