Lone Pine's Lone Dragon Pine hedge fund up 72.9%
|January 20th, 2010||
|Contributed by: Teri Buhl|
|According to Teri Buhl of the Greenwich Time, Steve Mandel’s newest long-only fund, Lone Dragon Pine, is proving it might really know what it’s doing when it comes to emerging markets investing. According to a Jan. 15 investor letter seen by Greenwich Time, Lone Dragon Pine returned a whopping 72.9 percent for 2009.|
It looks like going long on Brazilian mining stocks like MMX Mineracao e Metalicos S.A., whose stock climbed from just under $3 to a high of $15 last year, paid off. Greenwich-based Lone Pine Capital has been in the hedge fund business since the late 90’s and launched after Mandel trained under legendary investor Julian Robertson of Tiger Management Corp.
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