Sunday 2011-10-16

Julian Robertson by Daniel Strachman

Tiger put up some good numbers from 1980 to 1997; this makes it look like they largely just failed to manage the growth of their assets under management.

Also, Robertson's dad founded the NCNB from McCollByYockey. Go Carolina!

The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather, a lack of will.
-- Vince Lombardi, The Dedication
This is a man who can add a column of numbers in his head and know to the penny how much up or down is the portfolio ( remember the way Dustin Hoffman counted the matchsticks in Rain Man ) -- but he also has trouble remembering people's names.
He is willling to stomp, squash, and push anyone out of his way to be the best and to come out on top.
-- Introduction
( autistic asshole or acting, your choice )
Spencer came up with the name because Tiger is what Robertson calls everyone whose name he can't remember.
-- The Tiger Finds New Hunting Grounds
Finding opportunities was becoming harder, so Robertson hired moe analysts to scour more markets in search of good trades...
Robertson saw two possible paths to growth: the traditional markets and global macro investing.
-- The Tiger Begins To Growl
Robertson found the actions of Japanese corporate treasurers rather interesting. His research showed that the treasurers of many large corporations ... had decided to put the money (corp cash) to work in the stock market through funds set up just for this purpose. The problem was that many of the treasurers had not been satisfied with the 40 percent increase the market had achieved and therefore had borrowed money to put even more in the market. They were basically using their free cash as margin collateral....
-- The Crash of 1987
when it comes to managing money, the hardest part is not actually managing the money; the hardest part is raising the money to be managed. The key to any successful noney management business is 35 percent sustained solid performance over a significant period of time and 65 percent client relationship management.
-- The Crash of 1987
(Tim) Henney worked to eevelop the firm's trading systems and procedures in order to handle the massive inflows of money...
His job, among other things, was to take trading away from Robertson so that he could focus on making investment decisions.
-- The Tiger Tangles With The Press
He (Peter Siris) analogized Robertson's fall from grace to when the New York Jets were losing every game in the fall of 1999. Fans were not calling Coach Bill Parcells to be fired; the fans knew he was a great coach, they realized he was just in a losing streak.
-- The Press Dissects The Tiger