Hedge funds are other hedge funds' toughest competition. And there are just more of them, and it's tougher and tougher all along. Julian Robertson More Quotes by Julian Robertson More Quotes From Julian Robertson Our mandate is to find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them. If the 200 best don't do better than the 200 worst, you should probably be in another business. Julian Robertson worst should world It seems to me that the least deserving recipients of wealth are inheritors. Further, there are many indications that inheritors often have trouble adjusting to their unearned inheritance. An inheritance tax would de facto help remedy this. Julian Robertson adjusting inheritance helping I suppose if I were younger, I would be investing in Africa. Julian Robertson investing ifs would-be It, I think, now has the right leader for this time. Julian Robertson technology Anybody that doesn't like Netflix, that's like saying you hate Santa Claus. Julian Robertson saying you santa hate Accounting was the course that helped me more than anything. Julian Robertson anything more me accounting I think the cruise industry has come of age. And older people my age are attracted to the cruise ship industry. And they are booming right now, and all over the world they are booming. And I think they're for the golden oldies, and there are more and more of them around. Julian Robertson think age people world I think, definitely, this country needs a lower corporate tax rate and tax reform so that we can get our profits that we've made overseas back into the country without heavy penalties. And if that happens, I think that would be very good for the market and all of that. Julian Robertson back good think country In baseball, you can hit 40 home runs on a single-A-league team and never get paid a thing. But in a hedge fund, you get paid on your batting average. So you go to the worst league you can find, where there's the least competition. Julian Robertson you competition team home My message is get into what you love and really want to do and can do. And there are these tests you can take for that. All the colleges have them. Julian Robertson you what-you-love want love The man I respect the most in the business - and he's in the hedge fund business - is probably Stan Druckenmiller. He's just so smart and so good and so up on everything. I think he's fantastic investor. Julian Robertson good man respect business When I got out of the Navy... all those hotshots, the guys that were really smart and attractive and all that, guess where they were going? They were going into advertising. That was the hot thing then. Julian Robertson navy advertising smart hot I came to the conclusion that it was unlikely that a man as really awful as I think that Steve Jobs was could possibly create a great company for the long term. I just don't believe bad guys do well in the long run. Julian Robertson great man long believe I don't tweet. I don't know how to tweet. Julian Robertson how know tweet Digital Globe is, I think, a really great company. And it's had its virtual monopoly in the area where it is. Julian Robertson great think company digital I know Eric Schmidt, and he has different political views from mine. But I think he's a terrific guy. Julian Robertson political-views think know political I think social media is very long-lasting. I just don't know the particular thing with Twitter. Julian Robertson think know social-media media I'm not sure whether Jeff Bezos is the greatest thing in the world coming along or if he may be the emperor with no clothes. Julian Robertson coming greatest clothes world I don't see any particular sweet spot. But I do see sweet stocks that I really love and like and think are going to do well. And one is a company that probably makes that beautiful toenail polish you've got on. A company called Ulta. And it has just beautiful beauty salons all over the country. Julian Robertson you beautiful beauty love It's definitely much harder to run a hedge fund today than it used to be, in my opinion. That's because there are more hedge funds to compete with. Julian Robertson more run opinion today
