More than ten years after closing Tiger Management LLC, Julian Robertson is back! The famous hedge fund manager, who once averaged annual returns of 30 percent and had more than $20 billion in assets under management, has started the Tiger Accelerator Fund to seed the enterprises of young hedge fund talent. One such talent is his own heir apparent: the young Alexander Robertson, managing partner in the firm, former legislative assistant to Sen. Elizabeth Dole and graduate of Stanford Business School.
In honor of this great development, it seems worthwhile to link back to a 1996 Business Week hit piece — er, profile — of Mr. Robertson. It was so good that Mr. Robertson sued the magazine for libel. Among other things, the article notes Mr. Robertson’s “violent temper” and the fact that he named not one but two of his sons Julian. It also describes the office’s in-house Freudian psychoanalyst, whose duties included “calming down Robertson when he has a tantrum and informing Robertson of employee sentiments about him.”
But it’s also worth noting this addendum to the article, that ran after Mr. Robertson withdrew his lawsuit in 1997: “Business Week acknowledged that predictions regarding Tiger’s investment performance included in its cover story of April 1, 1996. “The Fall of the Wizard of Wall Street,” with the sub-headline “Tiger: The Glory Days are Over,” have not been borne out by Tiger’s subsequent investment performance, which included a 48% gain before fees (38.4% after fees) in 1996 and a 67.1% gain before fees (53.7% after fees) through December 11, 1997.”