UNC Kenan-Flagler Blogs

Tag Archives: hedge funds

Did hedge funds cause the economic crash? Some say yes. Research says no.

With the fall 2008 economic crisis, word on the street and in congressional chambers placed a good share of the blame at the feet of hedge funds — specifically, short-selling practices by fund managers and forced deleveraging by lenders. These accusations prompted calls for greater transparency and heavier regulation of these huge multibillion dollar funds. However, without objective data, legislators could either under- or overregulate certain players in the market while missing opportunities to make substantive changes where they may be needed more. Before we create new regulations targeting hedge funds, said professor Gregory Brown, Sarah Graham Kenan Distinguished Scholar and finance professor at UNC’s Kenan-Flagler Business School, we need to know if short selling and deleveraging were part of Read More

Hedge fund pioneer Julian Roberston on his investment philosophy

Julian H. Robertson Jr. (BSBA ‘55) is chairman and CEO of Tiger Management LLC. From initial capital of $8 million, Robertson built Tiger into the world’s largest hedge fund with capital of more than $23 billion. Tiger compounded at a gross rate of 31.5 percent between its founding in 1980 and its closing in 2000. Robertson also trained and developed a generation of “Tiger Cubs,” a cadre of analysts and portfolio managers who have become some of today’s most successful hedge fund managers. Today, Robertson maintains Tiger to manage his own investments and to seed independent hedge funds. Robertson spoke to UNC Business magazine about the recent recession and his investment philosophy. What do you think were the core causes Read More