Now We Know Why Julian Robertson Sold Apple Earlier This Year
Julian Robertson, Apple: Here's something you don't see everyday. Hedge fund legend and billionaire Julian Robertson shared his thoughts on Apple Inc. (NASDAQ:AAPL) this afternoon on CNBC. Although the interview was short, it sure packed plenty of wallop, as the father of the Tiger cubs wasted no time broadcasting his disdain for Apple and more specifically, Steve Jobs.
When asked why he doesn't hold Apple stock anymore (Robertson sold his entire Apple stake in the first quarter of this year), here's what he had to say:
"I read the book [...] I came to the conclusion that it was unlikely that a man as really awful as I think that Steve Jobs was could possibly create a good company for the long-term. I just don't believe that bad guys do well over the long-run."
Robertson adds that he's content with his decision to sell Apple shares in January, and he wasn't done talking about Jobs. Here's another very telling quote:
"How can you create a great organization of people and be that mean of a person? He basically cheated his partner--Wozniak--he refused to accept the parenthood of his child. I mean, he was really a terrible guy [...] he's one of the great geniuses of the world, but [...] bad culture, bad principles."
The full video is below: