Alibaba Held Key to Hedge Fund Riches in February

Many managers sold out last year, but the Chinese e-commerce giant was a top gainer for those who stayed the course.

(Gilles Sabrie/Bloomberg)

(Gilles Sabrie/Bloomberg)

“Open sesame” was the password to a thieves’ den full of gold that a poor woodcutter named Ali Baba learned in the renowned “Arabian nights” Middle Eastern folk tale. These days hedge funds have learned that Chinese e-commerce giant Alibaba Group Holding might be considered the modern incarnation, as it seems to hold a key to stock market treasures.

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