When is a hedge fund not a hedge fund? Answer: When the owner of the fund is George Soros, sugar daddy to various leftist causes. Mr. Soros, according to CNBC’s John Carney, is now out of the hedge fund business -- and out of reach of the tentacles of Dodd-Frank
By closing their funds to outside investors, these managers will be able to escape attempts to regulate them. They won't be classified as hedge funds anymore. Despite their billions of dollars under management, they'll simply be private investors or family funds.