Julian Robertson’s hedge fund investors didn’t want to listen to him when, in 1999, he questioned the sanity of the prices being paid for shares in nascent internet companies. So months after being berated for 15 minutes at an annual shareholders meeting at the Plaza Hotel in New York in October 1999, he began the process of closing up his shop. “There is no point in subjecting our investors to risk in a market which I frankly do not understand,” Robertson reportedly wrote to them in March of 2000. “After thorough consideration, I have decided to return all capital to our investors, effectively bringing down the curtain on the Tiger funds.”
In April 2000, the tech market began …
