The hedge-fund manager who embodied an era

was the archetypal hedge-fund manager. He had the kind of Southern charm that inspired fierce loyalty and opened the wallets of Wall Street titans. He was competitive, energetic and athletic—in short, a classic jock—who flew his staff out west on his private jet for gruelling hikes, mountain climbs and dips in icy lakes. He founded the archetypal hedge fund, too. Mr Robertson picked stocks—buying firms he liked and going short on those he did not. And he was exceptionally good at it. He set up his fund, Tiger Management, in 1980 aged 48, with just $8m. Between then and its peak in 1998 its annual returns averaged 32% after fees (the & 500 delivered 13%). By 1998, the fund managed $22bn.