TIP756: The Rise and Fall of Julian Robertson’s Tiger Fund w/ Kyle Grieve

You're listening to TIP. Did you know that from 1980 to 1998, Julian Robertson's Tiger Fund delivered an outstanding 32% annual return, more than doubling the performance of the S and P five hundred over the same time period. That kind of track record helped cement Robertson as one of Wall Street's most legendary investors. And yet despite his incredible success, his fund actually had to return funds to its partners in very short order during the tech bubble. In today's episode, we'll explore just how Robertson became so effective at finding mispricings in the market and how he utilized a vast network of very talented people and contacts to help improve his access to information. We'll break down one of his most famous commodity trades that netted him $300,000,000 in one day. We'll examine the mindset that Robertson carried with him from his days working in the Navy and why Robertson didn't believe the market really existed. You'll also learn how the Tiger Fund utilized a crude version of early sentiment indicators and how it was kind of a precursor to the CNN fear and greed index that we see today. Then we'll look at why Robertson just loved monopolies and oligopoly so much and how he saw bubbles in Japan and the .com era forming before the masses. But most importantly, we'll examine his seven core investing themes that helped guide his success and look at some of the timeless lessons that investors can clone from him in their own investing processes today. So whether you're working on improving your ability to think independently, building information networks, or trying to just understand risk and leverage better, Robertson's story provides a very robust framework and cautionary tale for any investor trying to understand the market better. Now, let's get into this week's episode on Julian Robertson. Since 2014 and through more than 180,000,000 downloads, we've studied the financial markets and read the books that influence self made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Kyle Grieve. Welcome to The Investors Podcast. I'm your host Kyle Grieve and today we're going to discuss an investing legend, Julian Robertson. So throughout the last few years of investing, I've continuously come across these so called Tiger Cubs. One fund such as Tiger Global Management is headed by a gentleman named Chase Coleman manages $70,000,000,000 Another one, Lone Pine Capital managed by Steve Mandel manages $20,000,000,000 Co2 Management managed by Philip Lafont has $58,000,000,000 in assets. So what do these three funds have in common? They are all part of the lineage left over from Julian Robertson's Tiger Management. So why is Robertson left such a long list of successful progeny? Because the man simply just knew how to invest. From 1980 to 1998, his fund had a 32 CAGR versus the S and P five hundred's 13% and in those eighteen years, the firm only lost money in four of them. This is …