Lone Pine Capital 2014 Q3 Investor Letter

Lone Pine Capital’s 2014 Q3 investor letter is out. Lone Pine Capital is one of the largest hedge funds in the World. Stephen Mandel‘s Lone Cypress lost 1.9% during the first 9 months of this year. Lone Kauri fund lost 2.1%, Lone Cascade lost 0.9%, and Lone Tamarack gained 1.7% during the same period. S&P 500 Index isn’t a good comparison for partially hedged funds because it is 100% long. However, Mandel included its return of 8.3% in his investor letter, so we are sharing it. In any case,...