John Griffin

Last Update: 2014-08-14

Number of Stocks: 50
Number of New Stocks: 6

Total Value: $10,136 Mil
Q/Q Turnover: 17%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

John Griffin' s Profile & Performance

Profile

John Griffin is the president of Blue Ridge Capital, an investment partnership that he founded in 1996. Mr. Griffin was known as legendary investor Julian Robertson's right hand man. He and a few others are named as Tiger Cubs as they worked with Julian Robertson at Tiger Funds. Mr. Griffin is adjunct professor of finance at Columbia Business School and a visiting professor at the University of Virginia. He began his career as a financial analyst for Morgan Stanley Merchant Banking Group before moving on to Tiger Management, where he became president in 1993.

Investing Philosophy

Blue Ridge seeks absolute returns by investing in companies who dominate their industries and shorting the companies who have fundamental problems. The firm employs fundamental analysis to make its investments.

On November 20, 2008, as part of the Value Investing Conference at the University of Virginia’s Darden School of Business, Griffin spoke on a panel discussion entitled “Developments in the Investments Industry”. Here are my notes on his remarks:

In what he called "the spirit of honesty", Griffin acknowledged that he has no position on the broader macro outlook. He has “no idea what is going on". He is not concerned with this because, over his twenty-year career as an investor, he has focused on picking stocks that can produce a superior return over a three to five year time period and shorting stocks that will underperform, or “not make it”, over a one to two year period.

The likely reason his shorts work, that is, the underlying companies fail, is a poor economic environment.

His portfolio is generally net long.

The shorts help the portfolio because they can go to zero in a poor market, whereas the longs may go down a lot, but they will come back based on the strength of the underlying businesses.

Constructing the portfolio this way makes it perform in a neutral fashion in a down market and gives Griffin the luxury of being somewhat indifferent to the macro environment. [Note: this is very similar to the approach that Buffett took in running his partnership, although in lieu of shorting, Buffett primarily relied on other forms of hedging (arbitrage, control investing, etc.) to protect his downside risk.]

When Griffin started his own fund in 1996, it was a very difficult period because he did not have a long-term track record, and everyone was fixated on his short-term record, i.e. what he had done in the prior week, month, year, etc.

When Griffin started, he had a large amount of cash to deploy. It was very stressful to go from the comfort of holding cash to putting it at risk. At the time, he wrote on the board in his office, “The future is uncertain; it is always a difficult time to invest.” He constantly reminds himself and his staff of this.

Total Holding History

Top Ranked Articles

John Griffin at the Darden Value Investing Conference
When I was at Columbia attending the Executive Value Investing Course, several times Bruce Greenwald mentioned the name John Griffin as someone we should pay attention to. Griffin is a highly regarded and successful value oriented hedge-fund manager. Here is his bio from the Gurufocus website: Read more...
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100 Ways to Beat the Market: #10, #11 and #12
#10: Focus on maximizing portfolio earnings ten years out Read more...
Stocks You Can Buy Cheaper Than Michael Price, John Griffin and Lee Ainslie
All hedge funds managers make mistakes. Even the best value managers could be prone to errors in valuation or could ignore big trends that could make their positions suffer big losses. Read more...
Blue Ridge Capital Buys Netflix, Monsanto, Liberty Global, KKR, Sells Citrix Systems, Sandisk, Valeant Pharmaceuticals
Hedge Fund Blue Ridge Capital is run by John Griffin, one of the Tiger cubs that are trained by the legendary Julian Robertson. John Griffin runs long-short strategies, has no positions in macro outlook as the long positions protects his portfolio in down market. There isn’t a lot of information online about Blue Ridge and John Griffin. The notes taken by our columnist Greg Speicher at the Darden Value Investing Conference is a very good read. Read more...
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Commentaries and Stories

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Rating: 4.6/5 (5 votes)

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  • Currently 2.00/5

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Blue Ridge Capital’s Portfolio Review - Lowest P/E Stocks John Griffin -  Blue Ridge Capital’s Portfolio Review - Lowest P/E Stocks
John Griffin once gave investors the sage advice to build the ark on their sunny days. A legendary value-oriented investor, John Griffin is the president of Blue Ridge Capital, an investment partnership that he founded in 1996. Griffin is also the founder and trustee of Blue Ridge Foundation New York. Prior to founding Blue Ridge Capital, Guru Griffin was president of Tiger Management, and a protégé of Tiger Management’s Julian Robertson. Early on, Griffin was a financial analyst for Morgan Stanley Merchant Banking Group. An active philanthropist, John Griffin also serves on the boards of iMentor (founding chair), Robin Hood Foundation and Robertson Foundation, and is a past board member of the Michael J. Fox Foundation, among others. More...

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John Griffin’s Top Sells - KORS Revenue Up John Griffin - John Griffin’s Top Sells - KORS Revenue Up
As of the third quarter, the updated portfolio of John Griffin of Blue Ridge Capital lists 50 stocks, seven of them new, a total value at $8.36 billion, and a quarter-over-quarter turnover of 10%. The portfolio is currently weighted with top three sectors: consumer cyclical at 31.4%, healthcare at 14.3% and financial services at 13.5%. The stocks bought by Griffin averaged a return of 25.4% over 12 months.[b] More...

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  • Currently 3.00/5

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Blue Ridge Capital Buys Charter Communications, American Homes 4 Rent, Tesla Motors, Sells Owens-Corning, Equinix, Realogy Holdings
Hedge fund Blue Ridge Capital just reported its third quarter portfolio. The fund is run by John Griffin, who was the right hand man of the legendary hedge fund giant Julian Robertson. Blue Ridge seeks absolute returns by investing in companies who dominate their industries and shorting the companies who have fundamental problems. The firm employs fundamental analysis to make its investments. More...

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Rating: 3.5/5 (2 votes)

5-Year Lows: ARMOUR Residential REIT Inc., CVR Partners LP, Molycorp Inc., QR Energy LP
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Rating: 3.7/5 (7 votes)

Paul Tudor Jones Doesn't Think Women with Children Have the Ability Focus Intensely Enough to Trade
The University of Virginia held symposium in last month that featured Paul Tudor of Tudor Investment Corporation, Julian Robertson of Tiger Management and John Griffin of Blue Ridge Capital. More...

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Rating: 3.0/5 (5 votes)

Unsinkable Molycorp Inc. - 52-Week Low for Rare Earth MCP
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Blue Ridge Capital Responds to Workday Inc.’s Mid-October IPO, Almost 7% Ownership
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  • Currently 2.25/5

Rating: 2.3/5 (8 votes)

John Griffin More than Doubles His Stake in Owens Corning
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Latest Picks from Hedge Fund Blue Ridge Capital
This is the latest portfolio update from hedge fund Blue Ridge Capital. Blue Ridge was founded by John Griffin, the protégé of the legendary Julian Robertson. John Griffin runs a long-short portfolio, but is generally net long. The shorts help the portfolio because they can go to zero in a poor market, whereas the longs may go down a lot, but they will come back based on the strength of the underlying businesses. More...

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Top Buys in the Last Quarter from John Griffin
John Griffin is the president of Blue Ridge Capital, an investment partnership that he founded in 1996. Mr. Griffin was known as legendary investor Julian Robertson's right hand man. More...

PORTFOLIO, MANAGER, GURU, TOP BUYS, INTERESTING STOCKS


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