Julian Robertson started legendary hedge fund Tiger Management. He is the father of over 40 Tiger Cubs (like Chase Coleman and other uber talented hedgies). In short, he is a hedge fund king.So pay attention, because he’s sharing right now.
Robertson was interviewed in Columbia Business School’s newsletter, and a few key snippets of that were picked up by Market Folly. From those, there are two key points that we’ll carry with us forever.
First one? Robertson’s investment strategy:
“I believe that the best way to manage money is to go long and short stocks. My theory is that if the 50 best stocks you can come up with don’t outperform the 50 worst stocks you can come up with, you should be in another business … For my shorts, I look for a bad management team, and a wildly overvalued company in an industry that is declining or misunderstood.”
The second one is even better — it’s what it takes for Robertson to take you into his clan and make you a cub by seeding your hedge fund. His criteria is very simple, one question only:
“Competitiveness. Is he a competitor?” He references that he often likes athletes due to their will.