Who Was Julian Robertson? What Was He Known for?
Julian Robertson was an American investor and former hedge fund supervisor greatest recognized for founding Tiger Administration in 1980, which grew to be probably the most distinguished hedge funds of its technology.
Robertson closed the doorways at Tiger in 2000 and went on to mentor youthful hedge fund managers and philanthropic ventures specializing in increased schooling and medical analysis.
In the course of the Nineteen Eighties and the early 90s, Robertson was also known as the “Father of Hedge Funds” and the “Wizard of Wall Avenue.”
Contents
Key Takeaways
- Julian Robertson was a high-profile hedge fund supervisor within the Nineteen Eighties and Nineteen Nineties.
- Robertson employed a long-short technique designed to revenue from the efficiency hole between his picks for one of the best and worst shares.
- Julian Robertson lived in New Zealand for a yr.
- He shaped the concept for Tiger Administration whereas on his year-long sabbatical.
- A lot of Robertson’s proteges who labored for him went on to grow to be profitable hedge fund managers.
Investopedia / Julie Bang
Early Life and Schooling
Julian Robertson was born in Salisbury, North Carolina, on June 25, 1932, to Julian Hart Robertson Sr., (an govt of a textile firm) and homemaker, Blanche Spenser Robertson. After graduating from Episcopal Excessive College in his hometown, he went onto the College of North Carolina and graduated in 1955.
Following two years within the Navy, Robertson joined the New York workplace of Kidder, Peabody, & Co. as a retail dealer in 1957. He climbed the agency’s ranks and finally took the helm of its asset administration division, often known as Webster Securities. Robertson departed Kidder, Peabody, & Co. for a year-long sabbatical in New Zealand in 1979.
Notable Accomplishments
Whereas in New Zealand, Robertson hatched the concept for a brand new fund. He based Tiger Administration, one of many first hedge funds, upon his return to New York in 1980. Robertson used preliminary property believed to be roughly $8 million. Tiger’s property grew to $22 billion over the following 20 years. The fund’s success is credited to Robertson’s skill to determine funding alternatives throughout the framework of a world macro buying and selling technique. Robertson often employed a long-short technique, loading up on one of the best shares he may discover whereas shorting these he thought-about the worst.
Julian Robertson is credited with being the primary main hedge funder, and his success spawned quite a few profitable hedge fund buyers.
Within the late Nineteen Nineties, Robertson was additionally recognized for his avoidance of tech investments in the course of the buildup of web shares within the late Nineteen Nineties. This avoidance was a double-edged sword for Tiger Administration. The fund carried out effectively in the course of the eventual collapse of the tech bubble however suffered from a drain of capital as buyers took their cash to Silicon Valley. A further stressor got here from a major funding in U.S. Airways, which didn’t go effectively for Robertson. U.S. Airways would file for chapter safety in 2002 and once more in 2004.
Robertson liquidated the Tiger Administration fund in 2000 following poor efficiency. He wrote that Tiger’s success had been primarily based on a rational method to valuation and buying and selling. This technique had confirmed much less efficient alongside the irrational development of web shares.
Within the years that adopted, Robertson centered his efforts on mentoring and investing with a slate of up-and-coming hedge fund managers often known as the “Tiger Cubs.” Distinguished members of this group embody John Griffin of Blue Ridge Capital, Ole Andreas Halvorsen of Viking International, Chase Coleman of Tiger International Administration, and Steve Mandel, previously of Lone Pine Capital.
Wealth and Philanthropy
Robertson was energetic in philanthropic actions after turning away from fund administration. He based scholarships at his alma mater and Duke College and dedicated to The Giving Pledge, a marketing campaign launched by Invoice Gates and Warren Buffet. Robertson was additionally energetic in New Zealand, buying a handful of luxurious lodges all through the nation.
Forbes reported that Robertson donated $1.3 billion to charitable causes. Amongst them embody environmental safety, constitution faculties, and medical analysis. As of April 5, 2022, Robertson was reportedly value $4.8 billion. Julian Robertson died on August 23, 2022 on the age of 90, at his house in New York.
Who Is the Wizard of Wall Avenue?
Julian Robertson was a billionaire who made his cash in hedge funds who was nicknamed the “wizard of Wall Avenue” because of his funding acumen.
Is Julian Robertson Alive?
Julian Robertson handed away on August 23, 2022 on the age of 90, at his house in New York. Following his retirement Robertson spent a lot of his time as an energetic philanthropist, who donated over $1 billion to charitable funds.
Who Have been the Tiger Cubs?
The phrase “tiger cubs” referred to the younger hedge fund managers who labored at Julian Robertson’s Tiger Administration Fund agency. A lot of them turned profitable hedge fund operators after transferring on from Tiger Administration, the place they had been skilled beneath Robertson.
The Backside Line
Julian Robertson was a former hedge fund supervisor who based Tiger Administration, a extremely profitable hedge fund within the eighties and nineties. The fund was probably the most well-known hedge funds of its technology earlier than it closed in 2000. Robertson was recognized for his enterprise acumen, beneficiant philanthropic work, and mentoring younger buyers excited by working hedge funds.
