Hedge Funds

Commodities Corp. rainmaker Marcus decides not to launch


Legendary "market wizard" Michael Marcus has decided to abandon his planned hedge fund on the eve of its May 1 launch.

Marcus had apparently attracted even more capital than he needed for his fund - which he planned to cap at $200 million. But after a difficult soul-search, he notified investors last week that he had changed his mind for personal reasons.

Marcus in fact had been retired from professional money management since leaving Commodities Corp. in 1988. He was one of the firm's most profitable traders.

Marcus is expected to return to managing his own money; his