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

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    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…

 

Futures Magazine

July/August 2014 Cover

New customer protection rules have landed: Are you ready?

The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.