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Tiger's macro stance pays off

Remaining shareholders in Tiger Management will benefit from Julian Robertson's value-investing macro plays even though the fund is in the final stages of unwinding.

Tiger is currently unwinding $2bn in positions in five stocks, including United Asset Management and US Airways. If the proposed UAL purchase of US Airways goes ahead, Tiger — the largest shareholder with more than 35% - will stand to make more than $500m in profits.

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