Julian Robertson
Julian Robertson's framework turns an investing idea into a decision memo: what to check, what to avoid, and what would change your mind. Use the 49 principles below as a checklist—not as buy/sell signals—and verify any numbers or quotes with primary sources. If you're new, start with Long/Short Equity to frame business quality, valuation discipline, and risk, then browse topics to find the rules that match your situation. Pair each principle with a concrete trigger so you can review whether you followed the process after the decision.
- Start with the principles as questions (not trade signals).
- Write down your thesis, risks, and “what would change my mind”.
- Cross-check with scenarios, filings, and your own data sources.
Educational only. This is not investment advice.
"Find the 200 best companies in the world and invest in them. Find the 200 worst and go short."
About Julian Robertson
Julian Hart Robertson Jr. (June 25, 1932 – August 23, 2022) was an American billionaire hedge fund manager. He founded Tiger Management Corp. in 1980, which became one of the largest and most successful hedge funds in the world, managing over $22 billion at its peak. Robertson is considered one of the pioneers of the hedge fund industry and is credited with mentoring a generation of successful fund managers known as "Tiger Cubs," including Chase Coleman, John Griffin, and Andreas Halvorsen, who went on to manage hundreds of billions of dollars. His investment approach combined rigorous fundamental analysis with a long/short equity strategy. Robertson focused on finding the best companies to own (longs) and the worst companies to short, creating returns from both directions of the market. Although Tiger Management closed in 2000 after suffering losses during the dot-com bubble, Robertson's legacy lives on through the dozens of successful hedge funds founded by his protégés, collectively known as the "Tiger family."
Core Investment Principles
Best vs. Worst Strategy
Go long the best companies in an industry and short the worst. This hedged approach reduces market risk while profiting ...
→Deep Fundamental Research
Know more about the company than anyone else on Wall Street. Talk to customers, suppliers, competitors, and former emplo...
→Invest in People
Back exceptional management teams. Great managers can turn around mediocre businesses; poor managers can destroy great o...
→Macro Overlay
Combine bottom-up stock picking with top-down macro awareness. Understanding the economic environment helps you position...
→Mentorship Matters
Train and mentor talented young investors. Sharing knowledge elevates the entire industry and creates a legacy. The best...
→Browse Julian Robertson's Principles by Topic
Famous Quotes
"Smart idea"
"grounded on exhaustive research"
"followed by a big bet."
"Avoid big losses. That's the way to really make money over the years."
"You never make a mistake by seeing people with brains."
