Steve Mandel Buys Managed Care Stocks Amid “Medicare for All” Scare: Finds These Private Equity Purchases Increasingly Attractive

Lone Pine Capital had a disappointing third quarter, which management blamed on a factor-driven market rotation. Lone Cypress was down 2.4% gross and 2.1% net, while Lone Cascade was down 3.4% gross and 2.6% net. On a year-to-date basis, the two funds are doing much better, however. Lone Cypress is up 20.7% gross and 16.9% net year to date, while Lone Cascade is up 19.5% gross and 19.2% net.

Factor buckets
In their third-quarter letter to investors, the Lone Pine team noted that lots of money is now . . .

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