Sunday, 29 March 2015
Last updated 1 day ago
Nov 15 2011 | 10:53am ET
"It was a rough quarter," Lone Pine Capital founder Stephen Mandel told investors in his quarterly letter to investors. Indeed, for the $16 billion hedge fund, it was rough, indeed.
The firm's Lone Dragon Pine fund lost 25.1% on the quarter as its other funds also dipped. Lone Cascade lost 14.3%, Lone Cypress 9.8% and Lone Kauri 8% during three months in which the Standard & Poor's 500 Index lost almost 14%, CNBC reports.
According to Mandel, it wasn't so much a "rough quarter," but a rough last week of the quarter. The funds' performance was "quite respectable until the last week of September," when the global stock sell-off burned Lone Pine.
Year-to-date, Dragon Pine is down 25.3%, Casade 9.2%, Cypress 4.2% and Kauri 3.8%.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…