As Greece Sits On The Financial Cliff, Tiger Management’s Robertson Is Having a Decent Week

New York (HedgeCo.net) – With Greece on the edge of a huge financial cliff and Puerto Rico’s governor declaring the island nation’s debt “unpayable”, indices around the world tumbled on Monday. While that was bad news for many investors, there were some investors that were smiling at Monday’s outcome.

One such investor is hedge fund legend Julian Robertson. Robertson founded and operated Tiger Management, one of the world’s largest hedge funds, until he returned investor money and started focusing exclusively on managing his own investments.
In an interview with Bloomberg, Robertson revealed that he was short Assured Guaranty LTD (NYSE: AGO), one of the world’s biggest bond insurers. The news about Puerto Rico hit AGO particularly hard and the stock was down as much as 16.1% on Monday.

Robertson was also gaining from a fall in the Euro, stating ““I’ve had a good position on being short the euro for a long time, so that’s been nice.” However, Not all the news was good for Robertson as he also revealed exposure to Chinese stocks and the Shanghai Composite Index fell 3.3% on this week.

Rick Pendergraft
Research Analyst
HedgeCoVest

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