One of Wall Street’s Best Hedge Funds Just Blew a 44% Gain Because of AI Bets
At the tip of June, Lone Pine Capital’s flagship hedge fund was up 44% for the yr. Three months later, virtually all of it was gone after its bets on AI shares turned. The fund, known as Cypress, completed September up simply 0.6%, Bloomberg reported. Lone Pine manages about $19 billion. It had posted double-digit…
