Thursday, 28 August 2014
Last updated 7 hours ago
Dec 16 2011 | 10:32am ET
Julian Robertson, founder of Tiger Management Co., says the hedge fund industry is 'tough.'
"It's a tough business to be in and it always will be," Robertson told CNBC's Squawk Box on Thursday, adding that it will only get tougher as more managers enter the arena.
"The hedge fund business is getting tougher because there are more hedge funds being created and the reason for that is it's the best way to pay these very competent guys on Wall Street, so they matriculate into hedge funds."
The 79-year-old Robertson, whose Tiger Management was one of the world`s largest hedge funds, is equally well known for having launched the careers of star managers like Lee Ainslie of Maverick Capital and Stephen Mandel of Lone Pine and for seeding the so-called 'tiger cubs.'
Robertson became chairman of Forstmann Little on November 23, following the death of Theodore Forstmann on November 20. In this role, the retired hedge fund manager will advise the buyout company as it winds down its operations.
Robertson told CNBC that despite the increased competition, he believes the hedge fund industry has a future:
"The industry has a lot of legs because it is the best way to run money," he said, qualifying that by adding, "The easy times are over."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...