Steve Mandel Having Strong 2019 Going Long Some Big Name Shorts
Lone Pine Capital had a solid second quarter, according the firm's letter to investors. The Lone Cypress fund was up 7.7% gross and 6.5% net, while the Lone Cascade fund was up 6.3% gross and 5.9% net. For comparison, the S&P 500 was up 4.3% for the second quarter, while the MSCI World Index was up 4.2%.
Lone Pine's two funds are both up 23.7% gross for the first six months of the year. Lone Cyprus gained 19.4% net, while Lone Cascade was up 22.5% net.
In their Q2 letter to investors, which was reviewed by ValueWalk
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