A major value investor is shutting his fund and returning money to investors. Warren Buffett did the same thing in 1969.
from Markets Insider
Ted Aronson, the cofounder and co-CEO of AJO Partners, plans to shutter the value-investing firm after more than three decades and return $10 billion to investors. The unusual decision echoes Warren Buffett's closure of his Buffett Partnership in 1969. "Our relative performance has suffered because our investment edge, our 'secret sauce,' is at odds with many forces driving the market," Aronson wrote in a letter to AJO clients this month.
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