Lone Pine Calls it Quits on Apple, Facebook And Baidu

Steve Mandel is done with Apple. He’s over Baidu, Global Logistic Properties and Michael Kors, too. His hedge fund, Lone Pine Capital, reveals in its second quarter letter to investors of its Lone Cypress fund that it is doing just fine in 2015. The fund likely had good timing on Apple as the hedge fund darling has seen a large decline over the past few weeks. Lone Cypress returned 2.7% net in Q2 and has climbed 6.9% net year-to-date. The Lone Kauri, Lone Cascade and Lone Tamarack funds have performed well as well, up 7.6%, 6.8% and 7.9% in YTD,…