Julian Robertson
Julian Robertson is an American investor and former hedge fund manager best known for establishing Tiger Management in 1980, which developed to be one of the most unmistakable hedge funds of its generation.
Robertson closed the entryways at Tiger in 2000 and has since tutored more youthful hedge fund managers and charitable endeavors zeroing in on higher education and medical research.
During the 1980s and the mid 90s, Robertson was frequently alluded to as the "Father of Hedge Funds" and the "Wizard of Wall Street."
Early Life and Education
Julian Robertson was brought into the world in Salisbury, North Carolina, on June 25, 1932, to Julian Hart Robertson Sr., (an executive of a material company) and homemaker, Blanche Spenser Robertson. Subsequent to moving on from Episcopal High School in his old neighborhood, he went onto the University of North Carolina and graduated in 1955.
Following two years in the Navy, Robertson joined the New York office of Kidder, Peabody, and Co. as a retail broker in 1957. He climbed the firm's positions and ultimately assumed control of its resource management division, known as Webster Securities. Robertson left Kidder, Peabody, and Co. for a drawn out holiday in New Zealand in 1979.
Outstanding Accomplishments
While in New Zealand, Robertson incubated the thought for another fund. He established Tiger Management, one of the primary hedge funds, upon his return to New York in 1980. Robertson utilized starting assets accepted to be roughly $8 million. Tiger's assets developed to $22 billion over the course of the next twenty years. The fund's prosperity is attributed to Robertson's ability to distinguish investment opportunities inside the structure of a global macro trading strategy. Robertson as often as possible employed a long-short strategy, loading up on the best stocks he could find while shorting those he considered horrible.
Julian Robertson is credited with being the main major hedge funder, and his prosperity generated various fruitful hedge fund investors.
In the late 1990s, Robertson was additionally known for his avoidance of tech investments during the development of internet stocks in the late 1990s. This avoidance was a situation with two sides for Tiger Management. The fund performed well during the possible collapse of the tech bubble yet experienced a drain of capital as investors took their money to Silicon Valley. An extra stressor came from a critical investment in U.S. Aviation routes, which turned out poorly for Robertson. U.S. Aviation routes would file for bankruptcy protection in 2002 and again in 2004.
Robertson liquidated the Tiger Management fund in 2000 following poor performance. He composed that Tiger's prosperity had been founded on a rational approach to valuation and trading. This strategy had proven less effective alongside the irrational growth of internet stocks.
In the years that followed, Robertson zeroed in his efforts on tutoring and investing with a slate of exceptional hedge fund managers known as the "Tiger Cubs." Prominent individuals from this group incorporate John Griffin of Blue Ridge Capital, Ole Andreas Halvorsen of Viking Global, Chase Coleman of Tiger Global Management, and Steve Mandel, formerly of Lone Pine Capital.
Wealth and Philanthropy
Robertson has been active in magnanimous activities since getting some distance from fund management. He established scholarships at his place of graduation and Duke University and committed to The Giving Pledge, a campaign sent off by Bill Gates and Warren Buffet. Robertson has likewise been active in New Zealand, purchasing a modest bunch of luxury lodges all through the country.
Forbes report that Robertson has given $1.3 billion to charitable causes. Among them incorporate environmental protection, charter schools, and medical research. As of Dec. 31, 2021, at 89 years old, he is worth $4.8 billion.
The Bottom Line
Julian Robertson is a former hedge fund manager who established Tiger Management, a highly fruitful hedge fund in the eighties and nineties. The fund was one of the most notable hedge funds of its generation before it closed in 2000. Robertson is known for his business keenness, liberal altruistic work, and tutoring youthful investors keen on operating hedge funds.
Highlights
- Robertson employed a long-short strategy intended to profit from the performance gap between his picks for whatever might be most ideal and most terrible stocks.
- Julian Robertson lived in New Zealand for a year.
- Large numbers of Robertson's proteges who worked for him proceeded to become fruitful hedge fund managers.
- Julian Robertson was a high-profile hedge fund manager during the 1980s and 1990s.
- He shaped the thought for Tiger Management while on his extended holiday.
FAQ
Who Is the Wizard of Wall Street?
Julian Robertson is a billionaire who brought in his money in hedge funds who was nicknamed the "wizard of Wall Street" due to his investment sharpness.
Who Were the Tiger Cubs?
The phrase, "tiger whelps" alluded to the youthful hedge fund managers who worked at Julian Robertson's Tiger Management Fund firm. A significant number of them became effective hedge fund administrators subsequent to moving on from Tiger Management, where they were prepared under Robertson.
Is Julian Robertson Alive?
Julian Robertson is 89 years of age (as of Jan. 1, 2022). Retired, he is an active humanitarian who has given more than $1 billion in charitable funds.
