Hedge fund Lone Pine Capital just reported its third quarter portfolio. The fund is run by Steve Mandel
, who runs a long-short investing strategy. A graduate of Harvard Business School, Mandel is regarded as one of the "Tiger Cubs" due to his tenure under legendary hedge fund investor Julian Robertson
at Tiger Funds. As such, he employs a similar long-short approach that invests primarily in stocks, and Mandel has outperformed the S&P 500 by 20% each year for the past eleven years.
Stephen Mandel, like several other money managers, is often referred to as a “tiger-cub”. This originated from his tenure with renowned investor, Julian Robertson
at Tiger Management Corporation. Julian Robertson
is credited as one of the earliest founders of hedge funds. From his initial startup of $8 million, he made over $22 billion upon that capital by utilizing talented men and women as analysts from around the country. Many these analysts, who are now so eloquently referred to as “tiger-cubs”, would go on to launch their own hedge funds, When Julian Robertson
shut down Tiger Management in 2000, he decided to further develop, mentor, and fund several of those that he felt were his brightest analysts. These analysts would then be known as “tiger-seeds”, and like their predecessors, would launch their own funds. Continue Reading »