Commentary: Survival Tips For Billionaires

It was as if the markets were playing an extended game of Who Wants to Be a Billionaire?--and the contestants were running out of lifelines. In late March, Julian H. Robertson Jr.'s Tiger Management hedge funds collapsed after 18 months of horrific performance and investor defections. Only weeks later, George Soros--philanthropist, Eastern European benefactor, mover of markets--seemed to face the same kind of fate. On Apr. 28, with his flagship Quantum fund down 20% for the year, Soros announced a "reorganization" of his $14 billion fund group.

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