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

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...