How Are ’80s Fund Masters Of The Universe Faring?


Here’s a blast from the past: Dow Jones’ Financial News surveyed the performance of 6 legendary fund managers (sub req.’d) from the 80’s to see how well they’ve performed lately. Who’s did very well? Paul Tudor Jones [pictured]. If you were lucky enough to get in on the ground floor with Jones in 1986, you would have received a 22.3% annual return on average for your investment. How about everyone else?

  • Louis Bacon, Moore Capital Management: Started the Moore Global Investment hedge fund in 1989, and has made 20.8% annualized returns.
  • Mark Kingdon, Kingdon Capital Management: Launched in 1986, now holds about $5.1 billion and has a 16.2% annualized return, through it dropped 26.6% this year. It previous largest fall was 30.2% in 1987.
  • Mario Gabelli, Gabelli Associates: Started in 1989, the fund has delivered 8.3% annualized returns, though it’s lost 5% this year and its in the midst of the longest continual drop–6.7% since October 2007.
  • Bruce Kovner, Caxton Associates: They had no information on his performance, and we’re not sure why they included him, other than to have his name on the list.
  • Julian Robertson, Tiger Management Corp: This one is already cooked. Robertson took $8 million in the eighties and turned it into $20 billion in the nineties, before being “confused” by the dotcom bubble and burst according to an investor, and subsequently losing all his money.

Robertson’s final investor letter has a quote that might as well be used today, “In an irrational market, logic, as we have learnt, does not count for much.”

photo: Street Stories