In Lone Pine’s latest letter to investors, Steve Mandel writes that it’s game on in the equity market.
He predicts that for the next few months, an inventory rebuild will continue to boost the market, after which the developed world consumer will likely suffer an extended hangover.
This year the fund returned 17.7%.
Lone Pine Cypress’s current key investment themes focus on investments which, they say, don’t depend on a strong developed world consumer: “outsourcing, smartphones, emerging market consumer-driven companies, national and global financial service leaders and internet-enabled business disrupters.”
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