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Bill Fleckenstein isn't so fond of The Fed; It's dangerous to be too long or too short the market; longer term he's bullish on gold

Bill Fleckenstein is making his wife happy: he's closing his short only fund

Famed short seller Bill Fleckenstein is shutting down his short fund saying that "compelling opportunities on the short side are not as abundant as they were just a few months ago":

"I no longer want to run a short-only hedge fund, as it is very stressful, nerve-racking and generally not very much fun," Fleckenstein, who runs Fleckenstein Capital, told readers of his Daily Rap site. He originally posted the message on Friday.

Fleckenstein said he wants to widen his focus and plans to spend next year setting up an investment vehicle that "won't be a hedge fund, which hopefully will be available to everyone." He said his wife is "especially happy about this potential change."

Fleckenstein closing up his short-only hedge fund - Reuters