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Maverick’s Flagship Falls Despite Successful Short Bets

The long-short fund is having its worst year in a long time, even though its short book has posted several winning quarters. In a letter to investors, the firm lays out why it thinks the environment for shorting stocks is improving.

       Lee Ainslie III, Maverick Capital (Bloomberg) Tiger Cub Lee Ainslie III’s Maverick Fund is suffering through its worst year in five years. If not for the firm’s short bets, its performance would be even worse. The fund’s manager, Dallas-based Maverick Capital, tells investors in its most recent letter that it thinks

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