SAN FRANCISCO, Calif. (HedgeWorld.com)–J. Carlo Cannell announced that he would step down as the principal of the Cannell family of hedge funds by June 2004.
Speaking at the Third Annual Alternative Asset Summit, San Francisco, Mr. Cannell said that he intends to leave most of his family’s net worth under the management of Cannell Capital LLC, the company he founded in 1992.
His retirement, “in no way suggests a lack of confidence in the management or investment style of Cannell Capital. We will still be amongst the largest investors,” he said. He could not say whether he will be off the rat racetrack for just six months or forever.