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Lone Pine Admits Lousy Quarter but Reaffirms Growth-Stock Strategy

Hedge fund firm traces losses to rotation from growth to value and by other firms reducing risk.

Lone Pine Capital concedes to investors that it suffered “a poor first quarter.” However, in a letter to investors in the Lone Cypress Fund dated April 14, the hedge fund firm stresses that it is sticking with the high-growth stocks that have mostly worked for it in recent years, except

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