Julian Robertson On What Stocks He Likes Now: Interview ~ market folly

Thursday, December 4, 2014

Julian Robertson On What Stocks He Likes Now: Interview

Tiger Management's Julian Robertson has been making his rare yearly media tour and this time he sat down with Fox Business to talk about the markets.

On the Markets & Global Economy

On the global economy, Robertson said that: "Europe is in serious trouble and not improving much.  Japan has had a little bit of revival but at the cost of doing a lot of things that are questionable.  And I think the US is doing better than anybody.  China's got some serious problems, too."

On What Stocks He Likes

As has been the case in his other recent interviews, Robertson was again bullish on Google (GOOG / GOOGL) and Apple (AAPL).

He said that, "Apple's below the market multiple and that's true of Google."  Robertson has bought AAPL within the past 2-3 weeks and thinks it's "an extremely reasonably priced stock."  He also labeled GOOG as the "premier technology company of them all."

The Tiger man also admitted he's owned Alibaba (BABA) for four years now, long before the company came public.

He's also liked airlines, saying Delta Airlines (DAL) is the class of the industry and that they've all obviously benefited from lower oil prices.  Robertson also said he likes Netflix (NFLX).

One company he bought up that he hasn't mentioned previously was Naspers, traded in South Africa.  This has been somewhat of a Tiger Cub / Tiger Seed favorite and the company owns Tencent and various stakes in Chinese companies.  The company is basically trading at the value of these investments, but they also have television assets and a bunch of other stakes as well.

On the Hedge Fund Industry

He says the problem is that the industry has expanded so rapidly and that competition among funds has really ramped up.  Back in the day not as many people were shorting, but now it's really prevalent.  He also said that it's difficult to run a hedged portfolio in a market that seemingly only wants to go up.

For more from this investing legend, head to Julian Robertson's 3 most important things to look for in a stock.

Embedded below is Robertson's interview with Fox Business:

And here's the second video of his interview:

And here's the third video:

blog comments powered by Disqus