[ssba] Julian Robertson Jr. – The Wizard Of Wall Street – The Hedge Fund Legend
Founder of Tiger Management LLC
Chairperson of the Forstmann Little Corporation
Ex-Chairperson and Chief Executive Officer of Webster Management Corporation
An American investor and philanthropist
“Management must be wedded to the bottom line as against building sales. It must have both a long term plan and the means to implement it.”– Julian H. Robertson Jr.
Julian Robertson Jr.: Background & bio
Julian Hart Robertson Junior was born in Salisbury, North Carolina, in 1932. His father’s name was Julian Hart Robertson Senior, who was a Blanche Spencer and an executive in a textile company.
Julian H. Robertson Jr. is entirely a self-made investor. In 1951, he completed his schooling at local schools and Episcopal high School in Salisbury and Alexandria respectively. In 1955, for his bachelor’s studies, he went to the University of North Carolina at Chapel Hill, from there he completed a bachelor’s of science in Business Administration.
He was a qualified commissioned officer in the United States Navy for two years, from 1955 to 1957. After leaving the Navy, he was appointed as a Sales Representative in Kidder Peabody and Corporation. He worked hard and climbed the ladder of success; after 17 years at Kidder Peabody and Corporation, he was promoted of a chairperson of a subsidiary of Kidder Peabody and Corporation, named Webster Management Corporation.
In 1979, he and his family left New York and went to New Zealand for a six-month.However in 1980 after returning from New Zealand founded Tiger Management Group (TMG),” one of the most primitive hedge fund investment companies.
Robertson is now retired from the designation of hedge fund manager and now earns a living investing in other hedge fund companies, headed by his former colleagues at his ex-company. These colleagues are often referred to as “Tiger Cubs.”
Robertson was happily married to his wife named Josie Robertson, and they have blessed with three children together. Unfortunately, on June 8, 2010, his wife died of breast cancer.
Julian Robertson Jr.: Career
Robertson, during his career, worked for many renowned companies and take them to the companies in the top list.
- Officer in the United States Navy, in 1955
- Sales Representative at Kidder Peabody and Corporation, in 1957
- Chairperson and Chief Executive Officer at Webster Management Corporation, a subsidiary of Kidder Peabody and Corporation, in 1979
- Founded The Tiger Management Group (TMG) (TMG), in 1980
- Founded The Tiger Foundation, in 1990
- Founded The Robertson Foundation, in 1996
- Founded The Blanche and The Robertson and Family Foundation, in 1997
- Chief Executive Officer at Kenan Flagler Business School in –residence
- Memberships on the Board of Visitors
- The Board of Directors at the General Alumni Associations
- The Board of Visitors at Kenan Flagler
- Chairperson at the Cancer Research Institute in New York
- The member of the Executive Council at Lincoln Center
- Trustee at the Rockefeller University
- Trustee at the Wildlife Conservation Society
- The Board of trustee of Catawba College
- Trustee at the Cathedral Church of St. John the Divine
- Trustee at the Environmental Defense Fund
- ‘Chairperson of the Forstmann little, as of November 23 2011 to date
Julian Robertson Jr.: The Tiger Management Group (TMG)
With the financial support of his family friends and colleagues, in 1980 Robertson founded The Tiger Management Group. He was commonly known as “Wizard of Wall Street” because of his blockbuster and outstanding business and stock records during the 80s and 90s.
He started his company with $8.8 million and his hard work and luck helped his firm become one of the top listed companies in the world. He is a very sincere guide as well; he helped so many young investors and business persons to nourish and grow their careers.
Julian Robertson Jr.: Investment style
Not many business people use the Julian H. Robertson Jr. Investment Style because of risk factors associated with it. Based on research carried out by his business analyst’s team he made the investment decision and placed big bets on the market.
This approach of investment helped become one of the most successful investors in the world.
In 2000 Julian Robertson announced plans to liquidate all six of his Tiger Management funds.In a letter to investors, Robertson, Tiger’s 67-year-old chief, blamed the fund’s problems on the rush to cash in on the Internet craze.
From CNN Money:
“As you have heard me say on many occasions, the key to Tiger’s success over the years has been a steady commitment to buying the best stocks and shorting the worst,” Robertson wrote. “In a rational environment, this strategy functions well. But in an irrational market, where earnings and price considerations take a back seat to mouse clicks and momentum, such logic, as we have learned, does not count for much.”
Robertson said he had already largely liquidated Tiger’s portfolio and was ready to return up to 75 percent of the $6 billion in assets to investors in cash immediately…
…In Tiger Management’s case, the Jaguar Fund had suffered sharp losses for more than a year, tumbling 7.8 percent in February and 13.8 percent year-to-date as of Feb. 29. Meanwhile, the fund’s assets plunged from roughly $20 billion in 1998 to about $6.5 billion, analysts said.
For Tiger, the beginning of the end occurred almost two years ago, when the fund lost $2 billion on a bad bet against the Japanese yen. To make matters worse, the fund continued to stick to its diet of so-called “old economy” stocks last year even though investors were pumping billions of dollars into technology issues…
“The result of the demise of value investing and investor withdrawals has been financial erosion, stressful to us all,” Robertson wrote. “And there is no real indication that a quick end is in sight.”
Among the fund’s largest holdings are: U.S. Airways, Sealed Air, Intel, Royal Bank of Scotland and Samsung.
Another holding, auto parts supplier Federal Mogul Corp., is watching liquidation of Jaguar fund closely, company officials said Thursday. Jaguar owns about 8.8 million shares of Federal Mogul.
“I’d rather not say that we’re worried, but I guess I would say that they hold a fair amount of shares,” company spokesman Steve Feeney said.
One former investor, Jaeson Dubrovay, chief investment officer with Carr Global Advisors in Chicago, held a stake in Tiger’s Jaguar fund over the past ten years until December when he sold his position…
Julian Robertson Jr.: After Tiger Management
After his the Tiger Management Group (TMG) was closed, he started investing in other companies where his form colleagues from Tiger Management Group (TMG). Because of his investment, he was able to help push many of these business and companies to the horizons of success.
His investment in their companies is actually proved very significant and beneficial to them and he himself earned many dollars. After his company the Tiger Management Group (TMG) closed, he also ramped up his philanthropy and humanitarian activities along his wife Josie Robertson and his other family members.
He is no doubt a committed person with his work and in each and every act he performs. OnNov. 23, 2011 he was appointed as a chairperson and chief executive officer of Forstmann Little Corporation after the demise of his previous chairpersons.
Julian Robertson Jr.: A Generous person
Over the years Robertson and his wife were acknowledged for their humanitarian achievements. One of the highlights included being recognized, in 2008, in the Business Week’s “The List of Top 50 American Givers.”
He is founder of three foundations named as:
- The Tiger Foundation
- In 1990, Robertson along his Colleagues at The Tiger Management Group (TMG) (TMG) started the Tiger Foundation.
- The Robertson Foundation
- In 1996, Robertson along his wife Josie started the Robertson Foundation.
- The Blanche and Julian H. Robertson Jr. Family Foundation
- In 1997, Robertson along with his wife and other family members started a foundation named the Blanche and Julian H. Robertson Jr. Family Foundation in the memory of his parents named Blanche Robertson his mother and Julian H. Robertson Jr. Senior his father, to continue their cause of the development of their native town Salisbury.
He is fond golfer and has developed many of golf courses in Auckland, New Zealand. In the years 2011 he was given a title of “New Zealand’s First Honorary knight”, in the acknowledgment of his humanitarian services for the betterment of New Zealand as an American.
Robertson and his wife worked to help fund cancer research institutes and children care institutes and granted lots of fund for the development and growth of these respective departments. Julian H. Robertson Jr. donated $18 million dollars twice to the Blanche and Julian H. Robertson Jr. Family Foundation.
Robertson and Josie Robertson were also passionate art lovers and humanitarians; they granted a superb collection of artworks to the Art Gallery of Auckland, which was later put on exhibit.
Julian Robertson Jr.: Quotes
“(We) bought some United this morning (Wednesday) strictly because it’s down like this, and it’s down when there’s an enormous opportunity in front of it.”
“It is a young man’s game.”
“Barton is in it for the love of the game. He loves the action.”
“Our mandate is to find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them. If the 200 best don’t do better than the 200 worst, you should probably be in another business.”
“When Robertson is convinced that he is right,” a former Tiger executive notes, “Julian bets the farm.”
“Hear a [stock] story, analyze and buy aggressively if it feels right.”
“I am sure he is going to keep getting things done.”
“We have had a lifelong love affair with New Zealand. We love Auckland. Moreover, we love these pictures. That is why we were so pleased when we brought these works to New Zealand that New Zealanders seemed to enjoy them as much as we do. Frankly, bringing the pictures was probably the most appreciated thing we have ever done. We are delighted to be able to make this gift.”
Julian Robertson Jr.: Books
- Julian Robertson: A Tiger in the Land of Bulls and Bears
- Hedge Hunters: After the Credit Crisis, How Hedge Fund Masters Survived (Bloomberg)
- Hedge Fund Managers, including: John Meriwether, Peter Thiel, Alfred Winslow Jones, Julian Robertson, Eric Mindich, Edward Lampert, Stanley … Pickens, Steven A. Cohen, Victor Niederhoffer
- Stock And Commodity Market Managers, including: Michael Milken, John Fitzwilliam Stairs, Henry Kravis, John Templeton, Ivan Boesky, Abigail Johnson, … Julian Robertson, Edward Lampert, Tom Basso
- More Money Than God: Hedge Funds and the Making of a New Elite (Council on Foreign Relations Books (Penguin Press))
Julian Robertson Jr.: Articles
- Tiger Cubs: Top Traders Trained by Julian Robertson
- Tax Me if You Can – The New Yorker
- FALL OF THE WIZARD
- Julian Robertson’s Empire Down Under
- Julian Robertson sees TWO bubbles brewing
- Citigroup Deal Haunts Pandit as Saudis Claim $383 Million
- How Paulson Gave Hedge Funds Advance Word of Fannie Rescue
- Julian Robertson to Become Chairman of Forstmann Little
- Scene: Druckenmiller, Donaldson, Julian Robertson, Many Lauders
- Kelusa Capital China Seeks Money for Fund After Gains
- Hedge Funds Face Succession Challenge as Kovner Hands Off to Law
- Fire MBAs, Race Like Rats — Surviving a Double Dip: Books
- Hamptons Scene: Harvard Researcher Eggan Courts Patricof, Wien
- Soros Goes Private as Golden Era of Rock Star Traders Concludes
- Ainslie’s Maverick Capital Looking to Seed Hedge Fund Managers
- Carlyle Acquires 55% of Tiger-Backed Emerging-Market Fund
- Tiger Asia Asks Hong Kong Court to Dismiss Trading Suit
- Kim, Former Tiger Asia Managing Director, Plans New Hedge Fund
- Tiger Asia Fund Said to Fall 16% on Bet Against China Stocks
- Goldman Said to Plan Blackstone Challenge on Hedge-Fund Startups
- Dalio Joins Billionaires Taking Buffett’s Charity Pledge
- Icahn’s Activist Funds to Return Money to Investors
- Bonds Show Why Boehner Saying We’re Broke Is Figure of Speech
- Harvard Cubs With $43 Billion Dwarf Their Former Endowment Home
- Gross’s Ex-Rainmaker Hague Recruits Pimco Alumni
- Viking Hedge Fund’s Dris Upitis Said to Resign as Senior Manager
- Lehman, Glaxo, Chevron, Massey, Galleon in Court News
- Julian Robertson to Become Chairman of Forstmann Little
- Shumway to Return Client Cash in $8 Billion Fund by End of March
- Tiger Asia ‘Disappointed’ With 0.5% Gain in 2010 as Shorts Hurt
- Booker Struggles as Zuckerberg, Robertson ‘Bet Big’
- Ackman Cash for Booker Brings $240 Million Aid From Wall Street
- Tiger Asia Gets SEC Subpoena After Hong Kong Probe
- Morgan Stanley Cedes FrontPoint to Unit’s Management
- Key Wooing Billionaires to New Zealand Minus English ‘Attitude’
- Kiwi Golfers Hit Pine Valley in Plan to Play for Year
- Tiger Global Said to Invest in LinkedIn at $2 Billion Valuation
- Tiger Names John Townsend Chief Operating Officer
- Rubin, Robertson, Disney Urge Congress to Resurrect Estate Tax
- Hedge-Fund Lackeys Grow Suicidal, Soros Becomes Messiah: Books
- SFC Seeks Trade Ban on Tiger Asia on New Allegations
- Touradji Sells Oil and Steel Companies, Buys Bullish Dollar ETF
- Cohen Expands SAC Trading Team as Hedge Funds Groom Successors
- THE MEDIA BUSINESS; Investor Settles Libel Suit Against Business Week
- Head of Tiger Management Considers Taking On a Partner
- COMPANY NEWS; Stake Is Acquired In Georgia Gulf
Julian Robertson Jr.: Videos
- Julian Robertson – Opalesque.TV interview Part 1
- Julian Robertson – Opalesque.TV interview Part 2
- Julian Robertson calls poor economy for 10-15 yrs
- Julian Robertson on CNBC
- Julian Robertson, Founder & Former CEO – Tiger
- Julian Robertson talks about Norway and the Norwegian
- Sell AAPL stock says Julian Robertson
- Julian Roberstson Helps You Pick a Stock to Buy
- Investment Legend Julian Robertson called the Great Recession correctly back on Oct 19, 2007
- Robertson Says Buy `Curve Caps’ to Hedge Rate Hikes
- Juian Robertson On Inflation
- Julian Robertson on Gold
- Julian Robertson Says Bubble Developing in Bond Market
- Robertson, Conway on Bond Bubble, Hedge Funds
- Tiger’s Julian Robertson big fan of Google & Uber
- Julian Robertson: Why I dumped Apple
- Julian Robertson: China Is Having Serious Trouble
- Julian Robertson Expecting Greek Default – Video
- Julian Robertson: Bond Bubble Will End Very Badly
- Julian Robertson Rare Interview: Likes Rolls-Royce
- Julian Robertson: ‘I’d Like to See GOP Majority
- Tiger Management’s Julian Robertson: Time to Invest
- Julian Robertson: Stocks I Like … And Don’t Like
- Tiger CEO Robertson: Hedge Fund Managers `Scared
- Julian Robertson: Inflation Could Hit 15-20%
- Robertson, Chopra on Hedge Funds, Strategy
- Q+A: Billionaire Julian Robertson – TV News Video
- Julian Robertson on Hedge Funds, Support for Romney
- Hedge funds hurting
- Book Review | Julian Robertson: A Tiger In The Land Of Bulls And Bears
- Julian Robertson: Hedge Funds Preparing for a Black Swan