Through his strong analytical skills and conservative, bottom-line driven investing approach, Ruane became one of the most successful fund managers on Wall Street. Over the past thirty years, Raune’s value-based investing approach has achieved stellar returns, often far outpacing the S&P 500 performance. In a surprising move, Ruane closed the Sequoia Fund in 1982. Though he could have easily taken on more investors and grown the firm, Ruane believed that doing so would dilute his effectiveness for his current clientele.