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Julian Robertson Investment career By 1993, his income and Tiger’s share of income combined were worth more than $300 million. In 1998, the total assets of Tiger funds reached a high point of $22 billion. The dot-com bubble was rightly predicted by Robertson’s Tiger Fund, which deliberately underweighted the sector because technology stocks were overpriced relative to their earnings and potential returns. Therefore, despite the fact that Tiger underperformed the S&P 500 in the short term, the fund successfully predicted the fundamental market error. “Tiger Management, for example, considered one of the most successful asset management firms in the world, has only a small percentage of its assets invested in technology equities. In 1999, Tiger terminated almost all of its investment in this market category.This is in line with the widely expressed reluctance of Julian Robertson, manager of the Tiger Fund, to buy into the internet bubble. [Citation needed]” US Airways is Tiger’s most important investment, as the company holds a quarter of the company’s total shares. The fund suffered huge losses as a result of the difficulties it caused. As a result of such mistakes, he ultimately decided to close his investment firm in late March 2000, at the height of the dot-com bubble, and return all outside funds to investors. Forbes reported that he had a net worth of over $400 million in 2003, and as of December of 2017, they calculated that it had risen to $4.1 billion. In 2008, Robertson said he profited from credit default swaps and shorting subprime securities. He also said that he was making money at first. According to Forbes, Robertson returned 150 percent on his own trading account over the next year, which was worth 200 million dollars. As of September of the year 2020, more than fifty percent of his investments are in the field of information technology, with most of his capital allocated to JD.com, Microsoft, Facebook, and Amazon Personal life Family 1972 marks the year that Julian married Josephine Tucker Robertson. Breast cancer was the cause of her death in June of 2010. Philanthropy Robertson is the name of the program as well as its founder and sponsor. The Robertson Scholars Program is a merit-based scholarship that, in addition to full tuition, room and board, and funding for travel, is awarded annually to 36 students attending Duke University and the University of North Carolina in Chapel Hill. Robertson pledged at least half of his money to charities by signing “The Giving Pledge” in August 2010, an initiative started by software tycoon Bill Gates and financier Warren Buffett to encourage wealthy to donate part of their fortune. In the New Year Honors for 2010, Robertson was recognized for his contributions to the corporate world and the charitable sector by being made an Honorary Knight Companion of the New Zealand Order of Merit. In 2009, it was announced that Robertson would gift the art to Auckland Art Gallery Toi o Tmaki with a total value of $115 million. The heritage is the largest of its kind in Australasia and features works by artists such as Paul Cézanne, Paul Gauguin, Pablo Picasso, Henri Matisse, Piet Mondrian, Salvador Dal, Georges Braque, André Derain, Fernand Léger, Pierre Bonnard, and Henri Fantin-Latour. In May of 2010, Robertson made a $27 million donation to the New York Stem Cell Foundation, a private research institute, to fund the institute’s research. In January of 2012, Robertson made a contribution of $1.25 million to Restore Our Future, a Super PAC that supported Mitt Romney’s presidential bid. Robertson donated $25 million to Success Academy Charter Schools in New York state in April of 2016. Legacy and awards In 2008, he was recognized for his achievements as a hedge fund manager and was inducted into the Hedge Fund Manager Hall of Fame of Institutional Investors Alpha. He has co-chaired Alfred Jones, Bruce Kovner, David Swensen, George Soros, Jack Nash, James Simons, Kenneth Griffin, Leon Levy, Louis Bacon, Michael Steinhardt, Paul Tudor Jones, Seth Klarman, and Steven A. Cohen, among others. others. One of nine individuals to receive the Carnegie Medal of Philanthropy that year (2017), Robertson was one of the recipients. Legal issues The article “Fall of the Wizard,” written by reporter Gary Weiss and published on the April 1, 1996 cover of BusinessWeek, was highly critical of Robertson’s performance and behavior as creator and manager of Tiger Management. The article is titled “Fall of the Wizard.” After that, Robertson filed a lawsuit against Weiss and BusinessWeek, seeking one billion dollars in damages for defamation. The case was settled amicably, with no fees exchanged between the parties, and BusinessWeek maintains its position that the reporting was accurate.
