Lee Ainslie Predicts A Return To Fundamental Investing – A Boon For His Maverick Capital [Q2 Letter – Exclusive]Michelle Jones
Lee Ainslie's Maverick Capital has had a rough year so far. The S&P 500 tanked 16% during the second quarter, bringing its year-to-date return to -20%. Investors worried about persistent inflation and the level of aggressiveness employed by the Federal Reserve in response to it.
Other concerns that dragged stock market returns lower included the possibility of a recession and geopolitical issues. All of these worries drove equities into bear market territory for the first time since the pandemic began.