Hints and tips:
...“We saw more models allocate to the S&P 500 last year,” Coleman said....
...Data from S&P Global showed that 29 per cent of GameStop shares were on loan on Friday — a gauge of short interest in the stock....
...Harriet Coleman starts every day with a cup of rose tea....
...But funds gained 6.1 per cent on average, compared with the S&P 500’s 26.3 per cent gain....
...It’s no coincidence that the S&P 500 is also having a stellar run....
...The move will be a significant change for $58bn group Tiger, which was founded by Chase Coleman in 2001....
...Melvin Capital, hit during the GameStop frenzy, was down about 40 per cent to November. Some funds, however, have prospered....
...Royal Caribbean and Carnival are two of the 10 most heavily shorted companies in the S&P 500 but have confounded short sellers’ expectations by more than doubling in value so far this year....
...Citadel, which suffered badly in the 2008 financial crisis but has gone on to post returns well ahead of the S&P 500 and its peers, was last year able to put on risk when many other investors were running...
...“He can basically be as populist, and as much of a culture warrior, as he wants,” said J Miles Coleman of the non-partisan University of Virginia Center for Politics....
...The S&P 500 was effectively unchanged....
...Robertson’s Tiger Management beat the S&P 500 in 14 of the years between 1980 and 2000, helped by trades such as shorting the price of copper in 1996 and betting against the Thai baht the following year....
...Coleman’s fund has in the past made huge gains for investors, helped by punchy bets on tech stocks....
...This was the problem that Melvin Capital’s Gabe Plotkin tried to solve when he last month said his hedge fund would eject investors from its fund before letting them reinvest in a new one....
...Melvin has lost a further 20.6 per cent in the first quarter of this year....
...There’s Gabe Plotkin at Melvin, Chase Coleman from Tiger Global. Not a hedge fund, but we’ve also got Cathie Wood of Ark Invest and the Innovation ETF, the exchange traded fund....
...Coleman isn’t the only star manager whose shine has been dulled by the tech sell-offs....
...Gabe Plotkin’s hedge fund manager Melvin Capital, which small traders cast as the villain of the memestock saga, has told clients it will wind down its funds....
...For Chase Coleman and Cathie Wood’s sake, we hope he’s right....
...The caution comes as a number of top managers appear to be taking bearish positions in their portfolios, even though the S&P 500 has already dropped 18 per cent this year and the Stoxx 600 has lost more...
...Over its two decades, the fund delivered average annual returns of more than 25 per cent, and beat the S&P 500 in 14 of the years....
...This year’s losses are milder than the 12.8 per cent fall in the benchmark S&P 500 index of US stocks, including dividends....
...Coleman added a $12.8mn position in a small company called Lamb Weston....
...Chinese stocks popular with big fund managers like Chase Coleman’s Tiger Global, Edinburgh-based Baillie Gifford and a group tied to Berkshire Hathaway vice-chair Charlie Munger have been hammered....
...Email me: harriet.agnew@ft.com Chart of the week Bad news for the big private investment wave over the past few years embodied by the likes of Chase Coleman’s Tiger Global....
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