Tiger Global Management’s hedge fund gained 7.3% in the first quarter as a rally in technology shares helped the firm begin to dig out from last year’s record losses. Bloomberg’s Hema Parmar reports.
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Transcript
For more let’s bring in blue mugs Herman Palmer set the scene because what they started off 2023 with half the amount of money that they did in 2021. yes it’s been a very difficult year for them last year they assets fell a ton they lost 56
In their hedge fund last year their long only was even worse so they’re Focus right now for them is how do they make back investor losses and so the gain that we’ve seen in the first quarter up about seven percent you know not bad
They do have a ways to go but I think investors are happy with any recovery and any gain um they will have to make more than a hundred percent again in order to make investors whole again and Emma what’s their track record on that right Tiger’s been in this game a
Long time they’ve had bad years before will they come back how long is it going to take them yeah so in the past if we look at you know one of their worst years there were down 26 back in 2008. it took them about three years before
They were able to make investors whole again and then about in 2016 they were down again and they took them just a year to make investors whole so that’s pretty good if you look at you know being able to Rebound in being able to recoup those losses I think the question
Is now you know the 56 loss from last year is far worse than both of those two previous years so how long will it take for them to do that again and talk to us about Chase Coleman himself I mean he doesn’t speak often publicly he does very little media but
He was hosting an event and it seems as though he was pretty bullish still on buying big Tech right now yes so he was speaking at a luncheon for the boys club in New York and um he was talking about he was asked about where he sees
Opportunity right now and he says that Tech you know has been in something of a recession lately but it looks interesting again that um companies are using and incorporating more technology into their businesses like Amazon you know using chat GPT and that he thinks he’s bullish on fangs and
Would suggest buying fangs so not unsurprising for a tech Focus firm he’s big and meta for example um but interesting to see you know how he sees the road ahead for the space that he focuses on
source
Sick prom photo
Not sure if they can beat the QQQ
Looks like MTG
Id hit
Thank you fir sharing.