Houston billionaire trader John Arnold retiring at 38

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Houston hedge fund manager John Arnold, a major force behind Enron’s once-mighty energy trading operation and one of the city’s richest men, has decided to retire — at 38.

In a letter to investors that was not made public but quickly found its way to the nation’s financial press, Arnold said he was quitting in order to “pursue other interests.” While the commonly used phrase often connotes a forced resignation, in this case the hedge fund was the one he controlled, and reportedly more than half of its assets were his own.

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