the markets at large again, julian robertson the true titan of wall street dead at the age of 90. (vo) hi. we're visible. a different kind of wireless company... ...running on a big impressive wireless network. how are we different? we exist only on your phone. so you get unlimited data for just $30/mo, taxes and fees included. plus we have a new plan with 5g ultra wideband. switch today at visible dot com. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq want an engaging website to boost your business? yeah... oh. you're just a click away from five star fiverr talent. hundreds of freelancer skills like web design. head to fiverr.com today and get something started. >>> we are back with legendly short seller jim chanos. i'd like to turn our attention to amc obviously they are in the news lately especially yesterday of course the new class of s

julian robertson was a mentor to a wave of investors known as tiger cubs.y the late 1990's his fund had $22 billion in assets, and annual returns averaging 32%. a wrong way bet on the yen cost investors to flee. he closed the fund in 2000. he was 90 years old. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i am mark crumpton. this is bloomberg. ♪ kriti: this is "bloomberg markets." let's talk about the price action we have seen. a real tumble. all roads lead to the dollar. that brings me to my chart of the day. vxy index. the weakness in the euro, dropping below parity. we drank -- we bring it back to the global financial crisis. it is not just about a strengthening dollar. it is about the margin of the move. you can see this progression line. that was mirrored in 2014. even back in 2008. the question here is, is the dollar living the market? how much of the commodi market is moving the euro. we will talk about that with mark mccormick. bloomberg spoke with steph

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probably a top 100 hedge funds out there, for dozen of them have some ties to julian robertson in tigerife. acre he did. 90 is a life well lived, but you know, it doesn't matter that your 90, we do mourn his passing and we send the best to his family, your final trades are up next. bubbles bubbles so many bubbles! as an expedia member you earn points on your travels, and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing with all those bubbles. without ever wondering if you're getting the most out of your trip. because you are. >>> already, time for the final, karen? >> thinks her being here joe, target came back $23 last 10 days, reloading target here. >> guy?>> i love you, i miss you, love watching you in the morning, and stay in the space >> little bit disappointed. i will be back.>> the energy play. exxon mobile. eight dollars. >> you have a trade? >> i'm going against the herd. xle. cell energy. >> thank you for watching fast money. >> kramer is next with mad money. >> my mission is simple. make you money. i'm here to level the playing f

julian robertson died at the age of 90, leaves a major legend. back to you.di: traders are bracing for hawkish talk from fed officials at jackson hole, but i goldman sachs chief economist tells us he sees jay powell signal a slower pace of rate increases. >> the property market downturn is a multiyear development. the fed wants below trend. that is why financial conditions are where they are. you have the fiscal drag. plenty of headwinds for sure. i don't think it's quite as bad as in china were euro. i think it will be balancing two things. one, they will lay out a case as they did in the minutes, slowing the pace of increases. i don't think he will be specific about the number, but he will be saying there is a risk of over tightening, and therefore, it makes sense to go more slowly, but at the same time, it will make clear the job is not done, inflation is too high. they are committed to bringing inflation back down. it will be a balancing act. >> there is a mix of themes. macy's, bloomingdale's do well in the have-nots are struggling. john taylor visiting

hedge fund pioneer julian robertson has died. two decades, the billionaire investor led one of the largest and highest profile funds, tiger management. robertson trained several fund managers who spun off and known as the tiger cubs. according to his spokesman, he died in cardiac complications. julian robertson was 90 years old. we're coming right back. liz: we have an emergency situation developing right now, water levels at the largest reservoir lake meade after two decades of drought. lake meade expanded arizona and nevada. most visited place in the park system. as lake meade shrinks and shuffles, so do businesses depend on the lake for hundreds of thousands if not millions of dollars in tourism. kelly o'grady live at lake meade in boulder city, nevada. reporter: good to see you, liz, listen, liz it is tough, drought is not certainly new to the western u.s., the worst experience in 1200 years. the top of the mountain a bit darker than the rest of it. that is the water line. shows you how far the water dropped from its peak. it

you know, before i let you go and real quick, you know, we reached out the day we learned of julian robertson's passing. you are a tiger cub. you mentioned starting in '93. what are your recollections of what he meant to you for what you do now >> yeah, julian was just an incredible mentor to me and to so many of us that were lucky enough to go to work every day at tiger management. he's just a -- he was an incredible exemplary man of character and morals, and i think sometimes what gets left behind when talking about julian, he was a great investor, there's no doubt about that. great judge of value, and great ability to see through choppy waters in the near-term and find value for the long-term. but the incredible thing i think that all of us that had the privilege of working with him were able to see was how he ran his business, how he -- the kind of people that he wanted to work with, not just inside the walls but when we chose partners, when we wanted to learn more about an industry and the consul at no time -- consultants that we hired and the people that we went to, we wanted to find real

cass, a million years ago when julian robertson said i'm going to go to kidder p and he was restless. was the giant those many years ago. my first job on wall street was a 10th hanover square as a housing analyst. julie has small office just like me. would -- he was working out of the new york city office of webster management -- that was out of boston and headed by a guy called jared curtis. with me where does joe kids my age was an older marketing guy, at least he seemed older. his son peter wood tear around to be the number one team in tennis. we probably chatted five times a day. i wanted to manage money. i remember he was kind enough to sponsor me for admission to the princeton club of new york rear -- a year after we met. i also remember in the beginning he forgot my name all the time. he called me tiger. i would later find out he called everyone tiger. for that reason -- for that reason he made it fun. i was there for a year or so and i will frame its analytical intensity. at the time i was the housing analyst and i wrote and i wrote in extent of 75 pages of industry review on

robertson. the legacy of hedge fund titan julian robinson was one of his -- kailey: welcome to bloomberg marketsi promised more housing data. we have it now. guy: we certainly do. it does not look quite as bleak as the market was anticipating. the month on month number is -1%. the prime number is -8.6. we saw that with the earlier data. and what is happening in the more established side of the market. kind of a similar, slight differences but basically saying the same trend. we will talk more about this later on. this is in some ways what the fed wants to see. we are now just days away from jackson hole. i have seen mike mckee in a cowboy hat. that tells you how close we are to jackson hole. to be honest, it makes you feel good. kailey: was there a bolo tie involved as well? guy: i did not see that. but i imagine tom keene would be rocking one of those later on this week. this is the narrative we are going to be watching out for. federal reserve bank of minneapolis, continues to beat the drum for monetary policy. he spoke yesterday at the gathering. >> i am in the mode of leave the air on making