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Despite stock bubble worries, Julian Robertson loves tech: 'Does anyone not like Netflix?'

  • "Right now, the Apples, the Facebooks, the Googles, those great growth companies are priced cheaper than they would have ever been in the '60s, '70s and '80s," said Robertson.
  • Robertson's comments turned heads on the heels of his earlier remarks that the stock market may be overvalued.
  • The S&P 500 rallied 1.1 percent on Monday to close at a record 2,488.11, while also notching its biggest one-day gain since April 24.
Julian H. Robertson Jr. speaking at the 2017 Delivering Alpha conference in New York on Sept. 12, 2017.
David A. Grogan | CNBC
Julian H. Robertson Jr. speaking at the 2017 Delivering Alpha conference in New York on Sept. 12, 2017.

Despite voicing concern over a growing stock market bubble, hedge fund legend Julian Robertson Jr. believes that large-cap technology companies including Facebook and Netflix are "tempting."

"Right now, the Apples, the Facebooks, the Googles, those great growth companies are priced
cheaper than they would have ever been in the '60s, '70s and '80s," said Robertson. "I don't think a lot of people realize that."

The Tiger Management founder made the comment Tuesday at the Delivering Alpha conference in New York, which is presented by CNBC and Institutional Investor.

Robertson's remarks turned heads on the heels of his earlier comments that the stock market, which has been posting records over the past few months, may be overvalued and trapped in a bubble. Information technology is currently the best-performing sector in the S&P 500 this year, up a sizable 26 percent since January.

"The market as a whole is quite high on a historical basis," he said earlier in the talk. "I think we need interest rates to appreciate, to go up, because I think we are creating a bubble."

The S&P 500 rallied 1.1 percent on Monday to close at a record 2,488.11, while also notching its biggest one-day gain since April 24. The Fed and other central banks have intentionally kept rates low in an effort to spur growth after persistent signs of weak inflation.

Though CNBC's Kelly Evans noted that Robertson had been trimming positions in both Facebook and Google, the hedge fund manager defended his interest in large-cap tech.

"[Netflix] is awfully tempting to me because it's run by really good people. And I love it too," he confessed to many laughs. "Does anyone not like Netflix? That's like saying you hate Santa Claus."

Delivering Alpha

2017 Advisory Board

Complete panel sessions | Delivering Alpha 2017

Previous Years

  • CNBC and Institutional Investor hosted the 7th Annual Delivering Alpha Conference on September 12, 2017.

  • Delivering Alpha 2017 stage, signage

    Meet the 2017 advisory board of Delivering Alpha, which takes place on September 12, 2017 at The Pierre in New York City.

  • The stage at Delivering Alpha 2016 in New York on Sept. 13, 2016.

    CNBC and Institutional Investor hosted the 6th Annual Delivering Alpha Conference on September 13, 2016.

About

CNBC and Institutional Investor are pleased to host the 8th Annual Delivering Alpha Conference in New York City on July 18, 2018. Please take note of the new month for 2018. Delivering Alpha continues to be an incomparable who’s who of the investor community with leading asset manager and institutional investors offering candid views along with illustrious political and economic commentators appearing in short segments moderated by CNBC talent and II editors.

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