The perennial attraction of curve steepeners
In January 2008, Brian O’Keefe informed us that “the biggest bet that [Julian] Robertson has in his own portfolio at the moment” was a curve steepener.
In October 2008, Buck Woodford told us that Robertson’s “favorite investment right now” was a curve steepener.
It’s worth noting that in the middle of this timeline we had the failure of Lehman Brothers and the most astonishingly disruptive market meltdown in living memory. But I guess Robertson saw that coming, seeing as how his strategy doesn’t seem to have changed at all.