Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Lone Pine’s Steve Mandel’s Performance Slips in 3rd Quarter

Steve Mandel started Lone Pine Capital in 1997 and has since grown it to one of the largest in the industry, but even the mighty fall. More frequently than not, they fall louder and longer than any others. Now Mandel has joined the ranks of those hedge fund managers with less than impressive performance reports CNBC.

LONE PINE CAPITAL

Steve Mandel Says ‘It Was a Rough Quarter’

Lone Pine’s Steve Mandel has not had a good third quarter. “It was a rough quarter” Mandel said. He described the fund’s performance as “quite respectable until the last week of September.” “Stocks globally are currently cheaper, based on consensus earnings estimates, than at any time in our 14-year history.” Mandel “blamed currently higher risk premiums and lower earnings multiples on a lack of political leadership, coupled with high levels of developed world government debt.”

Lone Pine’s Third Quarter Performance

“Lone Pine’s $8.7 billion Lone Cascade family of hedge funds took a beating in the third quarter,” reports CNBC, “with Lone Cascade down 14.3 percent, Lone Cypress down 9.8 percent, Lone Kauri down 8 percent and Lone Dragon Pine down 25.1 percent vs. the S&P 500, which was down 13.9 percent.” It said, “Year-to-date the Lone Cascade fund is down 9.2 percent, Cypress is down 4.2 percent, Kauri down 3.8 percent and Lone Dragon Pine down 25.3 percent versus the S&P 500, which was down 8.7 percent.”

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...