Some years ago, Julian Robertson did a great interview with the Graham & Doddsville Newsletter in which he discussed a number of topics including his investment philosophy, his success at Tiger, seeding the ‘Tiger Cubs’, and how to find undervalued opportunities saying:
“I would say that hedge fund investing is, in another sense, the antithesis of baseball.
You can hit .400 and not make much money if you’re not playing in the big leagues. But if you play in the big leagues and you hit .400, you’re going to make big money.
With hedge fund investing, you get paid on your batting average irrespective of the “league” in which you’re playing. So go where the pitching is the worst. Go to the minor leagues; go to Korea and China now.”
You can read the entire interview here:
For all the latest news and podcasts, join our free newsletter here.
Don’t forget to check out our FREE Large Cap 1000 – Stock Screener, here at The Acquirer’s Multiple: