GO
Loading...

Where Is Julian Robertson Investing?

CNBC.com

With so much uncertainty in the markets, there are plenty of good companies trading at attractive valuations, legendary hedge fund manager Julian Robertson, told CNBC's "Closing Bell" on Tuesday.

"I think our economy and some of the things overseas are having a big effect on investors," Robertson said. "I think right now a lot of very good investors have become so frightened about what's going on in Europe and Asia and with QE1, QE2 and QE3, they've kind of lost their way and are not realizing that there are an awful lot of marvelous companies available at very reasonable prices."

Robertson points to Apple, which trades at 14 to 15 times next year's earnings, as a prime example. "Apple is a great value at these levels," the founder of Tiger Management said.

(Read More: 5 Hedge Fund Favorites to Buy This Fall.)

Robertson also said European budget airline Ryanair was a recent purchase as well as aerospace supplier Rolls-Royce.

In financials, Robertson owns Capital One Financial .

He also noted that steel companies like AK Steel and U.S. Steel are "ridiculously priced for anything except a real takeoff in the economy."

He added that with the uncertainty and the risks, "this is the perfect time for hedge funds. We know how to hedge, we can hedge."

Robertson, a Mitt Romney supporter, also said a political change would be "catalytic."

"I really feel if American industry felt the country was being effectively managed, it might get more courage and do a lot more investing on its own," he said.

Contact Business

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More