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julian-robertsonJulian Robertson, one of the most successful hedge fund managers of the past few decades, told CNBC today:

I think we’re in the middle of a kind of a bubble market, where it’s going to take something bubble-like to happen. And prick the bubble and we’ll probably have pretty bad reactions to the breaking of the bubble…. I think you have to… lean towards– being conservative in a market [like this, by] …raising cash or going short.