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Alternative Market Briefing

Julian Robertson reveals what makes a good hedge fund manager on Opalesque TV

Friday, November 20, 2009

By Benedicte Gravrand, Opalesque London:

Julian Robertson, a legend in the hedge fund world for having run a highly successful hedge fund for 20 years, is also known for having mentored some of the brightest in the field, now known as the “Tiger Cubs.” What is less known about him, though, is that after his fund closed in 2000, he seeded quite a few young sparks too. He revealed, in a video interview with Opalesque, the decisive factors for selecting managers – and many other things.

About the Tiger Julian H. Robertson was born in 1932 in North Carolina, served as an officer in the U.S. Navy until 1957, then worked as a stock-broker. He later spent a year in New Zealand with his family to write a novel. When he returned in 1980, Robertson launched Tiger Management, one of the earliest hedge funds, and one that was to become a legend in the industry.

Robertson is credited with turning $8m in start-up capital from friends and family into $22bn in 1998, and for returning more than 20% net yearly for 20 years. He gathered the smartest stock-pickers on Wall Street to work on the fund – which closed in March 2000, when poor stock picking – a lesson about the smartest -, together with the shorting of technology stocks caused sharp losses and investor withdrawals.

Tiger Cubs Many of the traders and managers Robertson employed and mentored at Tiger Management – the “Tiger Cubs” – are now running some of the best-known hedge fund fi......................

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