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The Tiger in winter

institutionalinvestor.com · 7,465 words · saved by 1 readers

He was old school, scoffed younger rivals. He didn’t get investing’s New Paradigm: buying tech companies founded on the vaguest of ideas and with the dimmest of profit prospects and watching the stocks soar like Roman candles. It was early in 2000, and for more than a year, Julian Robertson had refused to waver in his conviction that the delirious run-up in Internet, telecommunications and technology stocks had no basis in reality and was doomed to collapse. And he issued warning after dire warning. But amid the tech-stock surge, his old-fangled Tiger Management hedge funds had declined about 40 percent since the end of 1997, and total assets had shrunk roughly 70 percent since late the following year. Rumors were rampant that he was liquidating positions. So on March 30, 2000, the person who many would argue was the greatest investor of his generation closed his $6.5 billion in hedge funds and returned most of the money to his remaining investors. Of course, Robertson, like the simila

The Tiger in winter He was old school, scoffed younger rivals. He didn't get investing's New Paradigm: buying tech companies founded on the vaguest of ideas and with the dimmest of profit prospects and watching the stocks soar like Roman candles. December 1, 2002 He was old school, scoffed younger rivals. He didn't get investing's New Paradigm: buying tech companies founded on the vaguest of ideas and with the dimmest of profit prospects and watching the stocks soar like Roman candles. It was early in 2000, and for more than a year, Julian Robertson had refused to waver in his conviction that

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