John Griffin

Last Update: 05-16-2016

Number of Stocks: 50
Number of New Stocks: 9

Total Value: $8,225 Mil
Q/Q Turnover: 9%

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 Increases His Stake in Autodesk Griffin adds 3.08 million shares of Autodesk in the 4th quarter
Guru John Griffin (Trades, Portfolio) is the president of Blue Ridge Capital, an investment partnership that he founded in 1996. Prior to founding Blue Ridge Capital, Griffin was president of Tiger Management where he was able to learn and gain confidence in his investment ability under the guidance of legendary guru Julian Robertson (Trades, Portfolio). Griffin received his MBA from Stanford University Graduate School of Business and his BS in finance from the University of Virginia’s McIntire School of Commerce. Read more...
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John Griffin (Trades, Portfolio) is the president of Blue Ridge Capital, an investment partnership he founded in 1996. Blue Ridge seeks absolute returns by investing in companies that dominate their industries and shorting the companies that have fundamental problems. Read more...
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Before he founded Blue Ridge Capital in 1996, hedge fund manager John Griffin (Trades, Portfolio) was a protégé of Julian Robertson (Trades, Portfolio) and his Tiger Funds and, as such, is known as a “Tiger Cub.” In fact, Griffin is remembered as Robertson’s “right-hand man” from their days together at Tiger Funds. Read more...
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Commentaries and Stories

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John Griffin Increases His Stake in Autodesk Griffin adds 3.08 million shares of Autodesk in the 4th quarter John Griffin - John Griffin Increases His Stake In Autodesk
Guru John Griffin (Trades, Portfolio) is the president of Blue Ridge Capital, an investment partnership that he founded in 1996. Prior to founding Blue Ridge Capital, Griffin was president of Tiger Management where he was able to learn and gain confidence in his investment ability under the guidance of legendary guru Julian Robertson (Trades, Portfolio). Griffin received his MBA from Stanford University Graduate School of Business and his BS in finance from the University of Virginia’s McIntire School of Commerce. More...

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John Griffin (Trades, Portfolio) is the president of Blue Ridge Capital, an investment partnership that he founded in 1996. Griffin was known as legendary investor Julian Robertson (Trades, Portfolio)'s right hand man. He and a few others are named as Tiger Cubs as they worked with Julian Robertson (Trades, Portfolio) at Tiger Funds. Griffin is an adjunct professor More...

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