Julian Robertson: A Life of Investment and Philanthropy

Julian Robertson is a legendary figure in the world of finance, known for his incredible success as a hedge fund manager and his generous philanthropic efforts. He founded Tiger Management in 1980 and went on to achieve remarkable returns for his investors.

Robertson's investment strategy was centered around finding undervalued companies with strong growth potential. He was a pioneer of the "tiger cub" approach, which involved identifying small-cap companies with immense growth potential.

With a keen eye for spotting hidden gems, Robertson's Tiger Management generated returns of over 30% in 1986, making it one of the top-performing hedge funds of the year.

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Julian Robertson was born in Salisbury, North Carolina in 1932. He grew up in a middle-class family with a strong emphasis on education.

Robertson attended the University of North Carolina at Chapel Hill, where he graduated with a degree in economics. He then went on to serve in the United States Marine Corps.

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Julian Robertson was born in Salisbury, North Carolina, on June 25, 1932, to Julian Hart Robertson Sr. and homemaker, Blanche Spenser Robertson.

He graduated from Episcopal High School in his hometown and then went on to the University of North Carolina, where he graduated in 1955.

After graduating from college, Robertson served two years in the Navy, which likely provided him with valuable experience and discipline.

He then joined the New York office of Kidder, Peabody, & Co. as a retail broker in 1957, marking the beginning of his career in finance.

Robertson eventually took the helm of Kidder, Peabody, & Co.'s asset management division, known as Webster Securities.

He departed Kidder, Peabody, & Co. for a year-long sabbatical in New Zealand in 1979, which suggests that he valued taking breaks and exploring new places.

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Robertson founded Tiger Management in 1980 with $8 million in funding from family, friends, and his own wealth.

Tiger Management reached a peak of $22 billion in assets in 1998, a remarkable feat that speaks to Robertson's investment prowess.

Robertson's Tiger Fund accurately predicted the dot-com bubble by purposely underweighting the technology sector, a move that paid off in the long run.

However, the fund also realized significant losses in the Japanese Yen and due to its large holding in US Airways, which controlled 25% of the company and struggled with financial issues.

Robertson's Tiger Fund ultimately closed in late March 2000, with Robertson returning all outside capital to investors, a decision likely influenced by the troubles in the technology sector and the desire to avoid further losses.

In a surprising twist, Robertson's personal fortune experienced a 403% return from the closure of his fund in 2000 until January 2008, a testament to his ability to adapt and thrive in changing market conditions.

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Julian Robertson is credited with being the first major hedge funder. His success spawned numerous successful hedge fund investors.

He founded Tiger Management, one of the first hedge funds, in 1980 with initial assets of approximately $8 million. Tiger's assets grew to $22 billion over the next two decades.

Robertson's ability to identify investment opportunities within a global macro trading strategy was key to the fund's success. He frequently employed a long-short strategy, loading up on the best stocks while shorting the worst.

Tiger Management's success was not without its challenges, however. Robertson's avoidance of tech investments during the late 1990s was a double-edged sword, as the fund performed well during the eventual collapse of the tech bubble but suffered from a drain of capital.

Robertson liquidated the Tiger Management fund in 2000 following poor performance. He attributed the fund's success to a rational approach to valuation and trading, which had proven less effective alongside the irrational growth of internet stocks.

In the years that followed, Robertson focused on mentoring and investing with a group of up-and-coming hedge fund managers known as the “Tiger Cubs.”

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Julian Robertson was a generous philanthropist, donating a staggering $1.3 billion to charitable causes.

He focused his giving on environmental protection, charter schools, and medical research, making a significant impact in these areas.

Robertson also committed to The Giving Pledge, a campaign launched by Bill Gates and Warren Buffet, further demonstrating his commitment to giving back.

As of April 5, 2022, Robertson's net worth was an impressive $4.8 billion.

He was a man of his word, using his wealth to make a positive difference in the world.

Julian Robertson's public image has been shaped by his humble beginnings and rise to wealth. He grew up in a small town in North Carolina and graduated from the University of North Carolina at Chapel Hill.

Robertson's wealth and success have also made him a target for controversy. He was criticized for his role in the 1987 stock market crash, which led to the loss of millions of dollars for his investors.

Despite the controversy, Robertson remains a respected figure in the business world, known for his investment acumen and philanthropic efforts.

Politics play a significant role in shaping Robertson's public image.

Robertson was a Republican who supported clean energy policies, contributing $500,000 to the ClearPath Foundation in 2016.

He had a significant connection with the Mitt Romney 2012 presidential campaign, donating $1.25 million to Restore Our Future, a Super PAC supporting the campaign.

Romney even attended Robertson's 80th birthday party in 2012, showing the close relationship between the two.

Robertson's support for the Jeb Bush 2016 presidential campaign was also notable, as he gave $1 million to a Super PAC supporting the campaign.

However, Robertson did not support Donald Trump in the 2016 election, instead backing libertarian Gary Johnson.

Despite this, Robertson was a supporter of the presidency of Donald Trump and the Tax Cuts and Jobs Act of 2017.

He even contributed $100,000 to Donald Trump's 2020 presidential campaign, further solidifying his support.

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Robertson was sued by BusinessWeek in 1996 for a cover story that was critical of his performance and behavior as founder and manager of Tiger Management.

The suit was over a story called "Fall of the Wizard", which was written by reporter Gary Weiss and published on April 1, 1996.

Robertson sued for $1 billion, but the suit was eventually settled with no money changing hands.

BusinessWeek stood by the substance of its reporting, which suggests that the magazine felt the story was accurate and fair.

It's worth noting that Robertson's lawsuit did not deter BusinessWeek from publishing critical stories about him in the future.

Here's a brief timeline of the lawsuit:

In his later life, Julian Robertson was still actively involved in the business world, but he also had time to focus on his philanthropic efforts. He was a generous donor to various causes, including the University of North Carolina.

Julian Robertson passed away on August 10, 2022, at the age of 90.