The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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SAC Capital spinouts struggled independently, whereas Tiger Management alumni thrived
“The old SAC was a great example for many, many years SAC generated phenomenal returns on the capital, and yet, with somewhat, some great consistency, the people that spun out couldn't come anywhere near replicating it on its own, and back then, SAC was really …”
Tiger's Short Japan, Long US Stance Was a Historically Brilliant Trade
“Back then in the nineties, the big trade that Tiger had and where Julian made tons of money was a macro trade. He did it through individual stocks, but we were short Japan and long the US. And that was a massive macro trade. It was one of the most brilliant ma…”
Tiger Management Was Down $225M on Thai Baht Short Before Devaluation
“I can remember they moved the band stronger against us. So at one point we were losing two hundred and twenty-five million dollars on the position.”
Liow: Launching Aravt Global in a conventional Tiger construct was a mistake
“Authenticity, I made a huge mistake when I started R of Art Global in that I was failing conventionally. I went into a classic tiger construct, and it's terrifying being fully authentic.”
Andreas Halvorsen helped start Williams' portfolio, imparting Tiger's investing style
“Andreas Halvorsen was part of the committee that started this portfolio, and there are a lot of Williams people who have worked at Tiger or Tiger family firms, and so what that means for our portfolio today is there's kind of this fundamental bottom-up kind of…”
Rodman: Institutionalization shifted hedge funds away from concentrated swings
“Volatile, taking big swings, conviction, and it felt to me, hedge fund industry truly was becoming too institutionalized. Which works. Obviously it's great for asset aggregation. So it's not to take anything away from the incredible businesses. I think that's …”