Saturday, 20 September 2014
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%.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.