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Lone Pine Suffers Sharp Setback in Fourth Quarter

The firm’s long positions way outperformed its short bets in 2017, leading Lone Pine’s long-only fund to beat the market indexes but cutting into its hedge funds’ gains.

        Stephen Mandel Jr.’s Lone Pine Capital suffered a sharp loss in the fourth quarter, cutting the gain for the year in its long-short funds to the low double-digits. However, its long-only fund — which accounts for the bulk of the firm’s assets — easily beat the market indexes. According to

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