Tiger Global has been hit by losses of about $17bn during this year’s technology stock sell-off, marking one of the biggest dollar declines for a hedge fund in history.
The run of poor performance means the firm — one of the world’s biggest hedge funds and a big investor in high-growth, speculative companies whose shares have tumbled since their pandemic peaks — has in four months erased about two-thirds of its gains since its launch in 2001, according to calculations by LCH Investments.
“The magnitude of the loss is breathtaking, especially for a fund with ‘hedge’ in its name,” said Andrew Beer, managing member at investment firm Dynamic Beta. “This shows how even the most talented and plugged-in tech investors failed to see the train coming down the tracks.”
https://www.ft.com/content/caa49a44-18a3-4e51-9dfb-aad61767f…