Julian Robertson

Julian Robertson threw in the towel right before value stocks 6-8x'd

Druckenmiller recalls that legendary investor Julian Robertson, long value and short tech, quit managing money in early 2000 because he couldn't take it anymore. Over the next 3-5 years the industrial 'old economy' stocks he had owned, like Phelps Dodge, rose 6-8 fold while tech collapsed.

“One of the greatest investors of all time, Julian Robertson, who was long value and short these crazy tech names, he basically threw in the towel and said he couldn't take it anymore. And stopped managing money in early 2000. But what happened in the next 3 to 5 years was incredible. Companies like Phelps Dodge Copper Company went up 6 to 8-fold, 6 to 8 times for the old industrial stuff.”