"It's part of a larger trend which is that a lot of good managers, and bad, are closing their doors because they're realizing, I can't make good money in this market"

Major Hedge Fund Closes: Even the "World's Best Business" Is Getting Tougher

One of the brightest stars in the hedge fund universe has burnt out. Tim Barakett founder of Atticus Capital says he's packing it in – telling investors he will return $3 billion of invested capital and will close two of the firm's biggest funds. Barakett, told the Wall Street Journal, after losing money last year he started to reflect, "I've wondered, 'Do I really want to be on this treadmill forever?'"

Not mentioned:

--The SEC has cracked-down on short-selling.

--The IRS is cracking-down on tax-evasion through off-shore money management firms, most recently winning an precedent-setting settlement against the Swiss/UBS.

--Public resentment of the entire financial industry is putting pressure on lawmakers to tighten regulations over firms like Atticus Capital.

--Individual investors have largely withdrawn from the markets, leaving the vast majority of trading to the 'house' firms with the insider connections.

And ultimately, most of these hedge-fund managers were opportunists in the first place. Now that the game is neither easy nor profitable, what else would they do but take their chips off the table and look forward to whatever new venture they can find.