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How value-focused are the Tiger cubs


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As an overbroad generalization they would characterize themselves as Value, and certainly relative to pod shops they are.


That said in a perfect world you'd say quality business trading at an entirely defensible valuation with a story that appeals, and you probably willing to hold so long as the story works and valuation isn't it insane, and the chosen metric can be entirely variable but not ridiculous.


There are some shops that emphasize the value bit more where a value guy willing to work in the process can in theory work out, but I'm loathe to name names, partially because my info is pretty outdated.


There are also places that have basically become stealth pod shops.


That said I think pre gfc the tiger guys generated a decent amount of returns from balance sheet things that are mostly gone (like positive rebate on the short book) also the generally have to run with less leverage.

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From the positions I see they still have significant overlaps. Keen to hear from current or ex-Tiger guys on portfolio turnover and the amount of work that goes into single investments.


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Julian's old mantra was to long the 50 best stocks and short the 50 worst. I think they're more traditional L/S alpha seeking [think pair trades, relative value, alpha shorts etc.]


From my time as an allocator,  I heard several of the tiger cubs used to have a conference call to share names / pitches, so you see alot of similar investments between funds. Now that we're on the 4th+ generation, no sure if that's true anymore.

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