Macro Funds Down for the Count, Stung by Volatility's Jabs

Requiem for a Heavyweight: Round 2

Even as Lennox Lewis and Michael Grant prepare for the biggest -- by combined weight -- championship boxing fight ever, the hedge fund world seems to be going the way of the welterweights.

The major reorganization at Soros Fund Management Friday comes less than a month after Tiger Management announced it was shuttering its operations.

George Soros isn't completely following the lead of fellow hedge fund legend Julian Robertson. But developments at Soros' hedge fund group go far beyond the resignations of managers Stanley Druckenmiller and Nicholas Roditi. ...