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Shareholders in Xtra Corp. U.S. Airways Group, United Asset Management and GTech Holdings Should Beware of Tiger Management's Demise
The value hedge fund Tiger Management, led by Julian Robertson, Jr. declared that it will close its doors. Although it claims that it will hold on to its investments in Xtra Corp., U.S. Airways Group, United Asset Management and GTech Holdings, who can be sure?
Certainly, Tiger Management has every incentive not to panic the market -- that would cause an even greater decline in the price of these stocks. Consider the following:
Tiger Management owns 24% of all the shares outstanding in Xtra Corp., 23% in U.S. Airways Group, 14% in United Asset Management, and 13 1/2 % in GTech Holdings. The price of each stock has suffered this year, most notably U.S. Airways Group, which is down almost 21%.
So, if you were Julian Robertson, Jr., what would you tell the press?
Source: Wall Street Journal, March 31, 2000
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