Is it possible to run a successful investment company by hiring employees and a CEO, and not be actively involved in the day to day work?

I was wondering if it was possible to successfully run a hedge fund, venture capital firm, mutual fund, or private equity firm as an owner by financing it entirely with your own money, hiring employees and a CEO, and not be actively involved in the day to day work. Would it be possible to build a system like this that can run passively on it's own, without me having to do much work? If not, why? via /r/business https://ift.tt/2y4EDor