Hedge Fund Legend Robertson Says Business Is ‘Tough’

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."


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note