Julian Robertson on CNBC

Julian Robertson is a legend on Wall Street--when he speaks, Wall Street listens. His nickname was "Never Been Wrong Robertson." He founded Tiger Management, once the largest hedge fund in the world, with $22 billion under management at its peak.

Of course, he was wrong a few times: he missed the tech boom, and ended up closing the fund in 2000. His other misses included going long on US Airways, which folded in 2002, and shorting copper last year, which rallied in 2009. However, his market calls have generally been prescient, and his performance and insight on markets is revered by the Street, including many hedge fund managers who learned their craft under Robertson.

http://pragcap.com/were-going-to-pay-the-piper