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Lone Pine Posts Gains But Remains Down for the Year

The hedge fund firm thinks longer-term longs and shorts in what it calls disruptive industries will eventually pay off.

Most of the hedge funds managed by Stephen Mandel Jr.’s Lone Pine Capital posted modest gains in the third quarter. However, they still remained mired in the red for the year. According to the Greenwich, Connecticut-based firm’s latest report to clients dated October 14, third quarter returns ranged from flat for

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