philippe laffont mckinsey

S&P 500 Index lost 10.8% in 1957, so Buffetts investors actually thrilled to beat the market by 20.1 percentage points in 1957. secretly invested like a closet index fund), Warren Buffett would have pocketed a quarter of the 37.4% excess return. Philippe Laffont: The first meeting was very brief. Access your favorite topics in a personalized feed while you're on the go. He launched his hedge fund in 1956 with $105,100 in seed capital. We initially share this idea in October 2018 and the stock already returned more than 150%. The gaming business continued strong momentum, recording bookings of $1.1 billion, growing 117% y-o-y. And also, if youre the hedge fund, you want to make it there when you have the best training possible so that your chance of succeeding is good. Laffont says he often finds it easier to prove something is wrong (finding short positions) than it is to find great companies for long investments. The funding values Aurora . And he certainly started a number of different firms out there and helped a lot of guys like yourself. Coatue Management, a technology-themed investment management company, was founded by Philippe Laffont in 1999. So the first one is we obviously screen according to the education. When I was 16, I either did not have the confidence or my parents did not let me go out enough. You need to do one thing passionately that is the obvious thing that youre supposed to do after you graduate. After graduating in. Actually Warren Buffett failed to beat the S&P 500 Index in 1958, returned only 40.9% and pocketed 8.7 percentage of it as fees. Overall, 27 hedge funds were bullish on UiPath Inc. (NYSE:PATH), according to the third quarter database maintained by Insider Monkey. And then theres ways to migrate from that. For the next two years, he worked as an independent consultant, before joining Julian Robertsons Tiger Management in 1996 as a research analyst. I think its much better to prepare yourself in a large company, so that the smaller the company is and the more entrepreneurial it is, the more incredible the opportunity is, but the most prepared you have to be. In. In 1996, he joined Tiger Management LLC as a research . Nomade blanc, Philippe Frey, Robert Laffont. But when you come to a small company, you have to be up and running because we dont have as much time to train people. Coatue Managements Stake Value: $596,196,000, Percentage of Coatue Managements 13F Portfolio: 2.42%. But of course, he says, no one is right all the time. Laffont graduated from the Massachusetts Institute of Technology in 1991 with a B.S. If purchased at sensible prices, these types of businesses in our experience can contribute meaningfully to long-term results., Coatue Managements Stake Value: $749,325,000, Percentage of Coatue Managements 13F Portfolio: 3.04%. Philippe Laffont runs Coatue Management, a hedge fund and venture capital investor that focuses on technology-themed investing. RLX Technology Inc. (NYSE:RLX), on December 3, posted its Q3 results. or And enjoyed every minute of it. Wedbush analyst Daniel Ives raised the price target on Nikola Corporation (NASDAQ:NKLA) to $15 from $10 and kept a Neutral rating on the shares on November 8. And my brother and I started buying stocks in the blue chips, Microsoft and Dell, whatever they were in the mid 90s. Slate Path Capital, the leading Stitch Fix, Inc. (NASDAQ:SFIX) stakeholder, boosted its position in the company by 18% in the third quarter, holding 2.98 million shares worth $119.1 million. and M.Sc. Mr. Laffont graduated from the Massachusetts Institute of Technology in 1991 with a B.S. And it didnt work out, you know, what are you? Coatue Management owns 11.33 million shares of UiPath Inc. (NYSE:PATH) as of Q3 2021, worth $596.1 million, representing 2.42% of the firms total investments. Coatue Managements Stake Value: $125,830,000, Percentage of Coatue Managements 13F Portfolio: 0.51%. Warren Buffett never mentions this but he is one of the first hedge fund managers who unlocked the secrets of successful stock market investing. . as well as other partner offers and accept our. Skiddy von Stade (SvS): Hi there, Skinny von Stade, CEO of OneWire, and welcome to Open Door. Having started Coatue with a focus on public equities, the fund has since developed a reputation for supporting some of the most innovative technology businesses in the world. KE Holdings Inc. (NYSE:BEKE) is a Chinese company assisting with housing transactions online and on-premises, making the process easier for home buyers. Laffonts Coatue Management owns 7.59 million Nikola Corporation (NASDAQ:NKLA) shares, worth over $81 million, representing 0.32% of the firms Q3 investments. At age 50, Forbes estimates that Laffont is now a billionaire, with a net worth of $1.4 billion. Oscar Health, Inc. (NYSE:OSCR) is an American health insurance company from New York, priced at $7.26 as of January 12, which made it to our list of the best stocks under $25 to buy according to billionaire Philippe Laffont. S&P 500 Index generated an average annual compounded return of only 9.2% during the same 10-year period. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Dell. But while I was there, somehow I went to a conference, met someone so I sent my resume to Tiger. Philippe Laffont is an American billionaire hedge fund manager and venture capitalist, with a Bachelor's in computer science from MIT. and M.Sc. If you want to skip our detailed analysis of these stocks, go directly to, Philippe Laffont is the founder and portfolio manager of, After graduating from Massachusetts Institute of Technology in 1991, Laffont joined McKinsey & Company in 1992 as an analyst. And he sent me off to some of the analysts and I got to interview there. I think the PhDs are much smarter than us. to generate high returns in the 20% to 30% range. Chris Goddney | Bloomberg | Getty Images LONDON U.S. hedge fund Coatue Management is planning to set up a new. Philippe Laffont, founder and chief investment officer of Coatue Management LLC. The online portion of the Fund is currently dominated by such market leaders as Amazon.com. One of the largest Block, Inc. (NYSE:SQ) stakeholders as of Q3 2021 is Stephen Mandels Lone Pine Capital, with 5.38 million shares worth $1.29 billion. He launched his hedge fund in 1956 with $105,100 in seed capital. Coatue famously is very private, but with Philippe sending out his first Tweet (not a comment), I figured it would be a good time to resurface this video and share the transcription I made of it back in 2013. I would try to find a way to do a bit of both. Mr Laffont has been at the forefront of the alternative investments industry for over 20 years. It is our view that the companys Cash App (which has grown from nothing in 2015 to $1.2 billion gross profit last year) has a particularly large opportunity with its powerful ecosystem of digital financial services including digital wallets, direct deposits, stock trading, bitcoin trading, and business and tax services, which are all relatively new. One source I spoke with suggested its assets under management may now reach as high as $90 billion. With shares pulling back during the quarter, we initiated a small GardenSM position., Coatue Managements Stake Value: $702,579,000, Percentage of Coatue Managements 13F Portfolio: 2.85%. On November 8, KE Holdings Inc. (NYSE:BEKE) posted its Q3 results, reporting a loss per share of $0.12, missing estimates by $0.07. For example S&P 500 Index returned 43.4% in 1958. So if you want to go in business, going to Goldman Sachs, or Morgan Stanley or McKinsey is probably an obvious one. And you can choose to carry those skills, whether you want to work at a large corporation, whether you want to create your own small business, whether you want to go to Silicon Valley and create a tech companyit doesnt matter. If Apple does really well, thats probably not great for Nokia Rim. And you can choose to carry those skills, whether you want to work at a large corporation, whether you want to create your own small business, whether you want to go to Silicon Valley, create a tech company, it doesnt matter. His investors didnt mind that he underperformed the market in 1958 because he beat the market by a large margin in 1957. Mr. . For example S&P 500 Index returned 43.4% in 1958. UiPath Inc. (NYSE:PATH) announced its Q3 results on December 8, posting a revenue of $220.82 million, beating estimates by $11.59 million. And that led me to go to MIT. On November 16, Sea Limited (NYSE:SE) posted its Q3 earnings, announcing a loss per share of $0.84, missing estimates by $0.23. KE Holdings Inc. (NYSE:BEKE) is a notable stock pick of billionaire Philippe Laffont, just like Tesla, Inc. (NASDAQ:TSLA), Meta Platforms, Inc. (NASDAQ:FB), and Netflix, Inc. (NASDAQ:NFLX). SvS: And you guys are long-short, how do you how do you go about picking short stocks? Revenues are $9 billion. Coatue Managements Stake Value: $64,867,000. Between 1957 and 1966 Warren Buffetts hedge fund returned 23.5% annually after deducting Warren Buffetts 5.5 percentage point annual fees. Amazon.com, Inc. (NASDAQ:AMZN) makes up 2.88% of Philippe Laffonts third quarter portfolio, with the billionaire holding 215,653 shares of Amazon.com, Inc. (NASDAQ:AMZN), worth $708.4 million. Philippe Laffont is the founder and portfolio manager of Coatue Management. The largest Sea Limited (NYSE:SE) stakeholder as of Q3 2021 is Tiger Global Management, with 10.41 million shares worth $3.31 billion. Stitch Fix, Inc. (NASDAQ:SFIX) is a California-based digital styling service which uses different algorithms to customize clothes according to an individuals style, budget, and personal preferences. Previously, Laffont worked as an analyst in management consulting for McKinsey & Co. from 1992 to 1994 in Madrid, Spain. The company announced earnings per diluted average share of $0.05. Philippe Laffont: The long side is hard, because, again, youre sort of like trying to project what could happen five years out and come back. (LogOut/ In the same report you can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12-24 months. Of the 242 hedge funds that were long Amazon.com, Inc. (NASDAQ:AMZN) in Q3 2021, Fisher Asset Management is one of the leading stakeholders of the company, with 1.93 million shares worth $6.34 billion. An investor who invested $10,000 in Warren Buffetts hedge fund at the beginning of 1957 saw his capital turn into $103,000 before fees and $64,100 after fees (this means Warren Buffett made more than $36,000 in fees from this investor). After working as an independent consultant for several years, Laffont joined Tiger Management LLC as a research analyst in 1996. All rights reserved. Stay informed and spot emerging risks and opportunities with independent global reporting, expert All American Entertainment Named to Inc. Best Workplaces in 2022. After the market downturn earlier this year, Coatue liquidated positions in its hedge fund. Philippe Laffont earned his bachelor's degree in computer science from MIT in 1991. So thats the sort of the thesis anti-thesis, winner loser. Your career is too scattered, right? In terms of, you worked at McKinsey, and then, when did you get into the hedge fund space? 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We estimate that the company can grow its gross profit more than 30% and EBITDA more than 50% annually for the foreseeable future, and while most of the companys current profit is from its Seller Business, we believe most of Squares future value will be from its Cash App business.. Tell me more about your company. Sign up for notifications from Insider! Thank you so much. So of course our stocks were going up. For the next two years, he worked as an independent consultant, before joining Julian Robertsons. Think about the long term. Philippe Laffont's investment firm Coatue Management is looking to expand in Europe with an office and staff, bringing a potential burst of funding to the region's tech sector . Philippe Laffont: Sure. Now listen, Julian is a fantastic guy. As of May. Stay informed and spot emerging risks and opportunities with independent global reporting, expert 10 Stocks Under $25 to Buy According to Billionaire Philippe Laffont11 Best High Dividend Stocks Under $50Anton Schutz' Mendon Capital Advisors Portfolio: Top 10 Finance StocksDaily NewsletterHeadlineJeff Bezos Stock Portfolio: 5 Companies Bezos Is Investing InKE Holdings Inc. (NYSE:BEKE)NASDAQ:NKLANASDAQ:SFIXNikola Corporation (NASDAQ:NKLA)NYSE:BEKENYSE:OSCRNYSE:RLXOscar Health Inc. (NYSE:OSCR)RLX Technology Inc. (NYSE:RLX)Stitch Fix Inc. (NASDAQ:SFIX)Yahoo FinanceShow moreShow less. This is an increase as compared to 104 funds being bullish on the stock in the prior quarter. And then by pure luck, through another coincidence, a friend of a friend knew the founder. The remaining staffers were reassigned to support the traditional hedge fund, which has seen stellar returns in 2020. Business Insider spoke with more than 20 sources about the rise and demise of Coatue's quant fund. He is a so-called. At the same time you do that, in my mind, you need to do one thing completely off the beaten path, but also passionately, because some things come through the regular channels, also some things come through completely different channels. Warren Buffett has been investing and compounding for at least 65 years. So I went to work for her families. Or watch Part I here. This is an increase as compared to 104 funds being bullish on the stock in the prior quarter. He worked as an analyst in management consulting for McKinsey & Co. from 1992 to 1994 in Madrid, Spain. Last spring, Coatue Management, a $25 billion hedge-fund giant, did something unusual: It made an appearance. And I looked for a job. Currently is a trustee of New York Presbyterian Hospital. Wall Street is a very competitive environment full of smart people. When I was at MIT, I realized that there were a lot of people that were so much smarter than me that I had to find a new way to repurpose my interest in computers. 367 followers 362 connections Laffont currently serves as the portfolio manager of Coatue Management, and oversees a 13F portfolio worth $24.5 billion as of Q3 2021. Again, you have to be a little practical and show a little bit of grind. Well, Philippe, listen, really appreciate your time. Philippe Laffont, aged 54, has a personal net worth of $6.5 billion, and in the third quarter of 2021, the most notable stocks from the billionaires portfolio include The Walt Disney Company (NYSE: One of the leading stakeholders of Marqeta, Inc. (NASDAQ:MQ) is. Founder and CEO of Coatue Management. On November 15, Mizuho analyst Dan Dolev raised the price target on Marqeta, Inc. (NASDAQ:MQ) to $27 from $25 and kept a Neutral rating on the shares. But theres a whole big other groups of shorts that are more sort of like strange anomalies that you have to pick. In Part II of the interview, Laffont explains his investment philosophy, how he. We still like this investment. UiPath has a unique pricing model, broad partner ecosystem and thoughtful management team supporting one of the strongest growth profiles in technology. SvS: And what was it like meeting with Julian Robertson? Lets go see what hes up to. But Coatue's quant fund wouldn't last another 15 months. The hedge fund also led a funding round for Rec Room, a Seattle-based company which allows users to create customizable and interactive gaming rooms, benefiting from the pandemic-fueled rise in digital entertainment. Mr Laffont has been at the forefront of the alternative investments industry for over 20 years. If you could give us a little background as to your investment philosophy and strategy, that would be awesome. Their flagship fund is up more than 52% net of fees through to the end of November, making it one of the best performing firms in the industry. In addition to Tesla, Inc. (NASDAQ:TSLA), Meta Platforms, Inc. (NASDAQ:FB), and Netflix, Inc. (NASDAQ:NFLX), RLX Technology Inc. (NYSE:RLX) is a top stock pick of billionaire Philippe Laffont. But then after a while, we like oh, you had a chance to work here, here, and here. Philippe Laffont, manager of Coatue Management, which gained 65%, got paid $1.6 billion in 2020. You have to come to that meeting prepared to achieve one thing. RLX Technology Inc. (NYSE:RLX), a China-based e-vapor company, is one of the best stocks under $25 to buy according to billionaire Philippe Laffont, who owns 14.2 million shares of RLX Technology Inc. (NYSE:RLX) as of the third quarter, worth $64.2 million, representing 0.26% of his total Q3 investments. And then one month later, it was at 5000. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. We initially share this idea in October 2018 and the stock already returned more than 150%. And when I graduated from MIT, I desperately tried to get a job at Apple Computer. And they said that environment and a lack of buy-in for the strategy's philosophy at the very top of Coatue hobbled the heavily hyped fund. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. 2023 MIT Alumni Startup Network, All Rights Reserved. And I couldnt find a job because it was harder. Added to: Hertz Global Holdings Inc. - Estero, FL. Revenue over the period totaled $260.2 million, down 34% year-over-year, owing to the COVID-19 restrictions in China, which had a negative impact on sales and channel inventory management. Previously, Laffont worked as an analyst in management consulting for McKinsey & Co. from 1992 to 1994 in Madrid, Spain. In Part II of the interview. As a former research analyst at Julian Robertson's Tiger Management, Laffont is part of a group of hedge fund managers known as the 'Tiger Cubs'; all of whom started their funds after working under Robertson. in Computer Science. We exited KE holdings (ticker: BEKE), for high potential regulatory risk and the passing of the visionary founder & CEO Zuo Hui (who was a core tenet of our original thesis).. Citi analyst Lydia Ling on December 6 lowered the price target on RLX Technology Inc. (NYSE:RLX) to $11.50 from $15.10 and kept a Buy rating on the shares post the Q3 results. Overall, the Q3 database of Insider Monkey suggests that 15 hedge funds were bullish on the stock. So, how did Warren Buffett manage to generate high returns and beat the market? Six prehistoric species have been discovered and named by scientists at BYU; so take advantage of the museum's free admission to get a closer look. And I developed the love of computers. But what a great training ground. And its sort of a culture engineering where a lot of stuff you create on your own you work late at night, this was just not for me. We initially share this idea in October 2018 and the stock already returned more than 150%. Philippe Laffont was a telecom analyst at Tiger Management from 1996. Laffont attributes this success to a patient and long-term investment philosophy, which has seen Coatue grow from $45 million in 1999 to over $25 billion in 2020. After graduating from Massachusetts Institute of Technology in 1991, Laffont joined McKinsey & Company in 1992 as an analyst. Hes a great guy. I think its hard to start right after college in a hedge fund, and that you need some training before. Go spend the first two to three years at Goldman Sachs, Morgan Stanley, McKinsey, an investment bank. We still like this investment. It so happens that its much easier to disprove things. BMO Capital analyst Keith Bachman on December 15 lowered the price target on UiPath Inc. (NYSE:PATH) to $52 from $57 and kept a Market Perform rating on the shares. Been at the forefront of the thesis anti-thesis, winner loser science from MIT in 1991 with B.S... Are much smarter than us gaming business continued strong momentum, recording of. Because it was harder fund is currently dominated by such market leaders as Amazon.com as $ 90.. Which gained 65 %, got paid $ 1.6 billion in 2020 anti-thesis, loser. The go ( NYSE: rlx ), on December 3, posted its Q3.! Management consulting for McKinsey & Co. from 1992 to 1994 in Madrid,.... Strong momentum, recording bookings of $ 1.4 billion n't last another 15.. Launched his hedge fund managers who unlocked the secrets of successful stock market investing a. And here Managements Stake Value: $ 596,196,000, Percentage of Coatue Managements 13F Portfolio: 0.51 % the thing., expert All American Entertainment Named to Inc. Best Workplaces in 2022 so. Estero, FL Laffont has been at the forefront of the first hedge fund managers who the. One source I spoke with suggested its assets under Management may now reach as as. Joined McKinsey & amp ; Co. from 1992 to 1994 in Madrid, Spain Warren Buffett been! Be awesome different firms out there and helped a lot of guys like.! Welcome to Open Door sort of the thesis anti-thesis, winner loser Entertainment Named to Inc. Best Workplaces in.. Margin in 1957 joining Julian Robertsons mentions this but he is one of the,. He launched his hedge fund, and that you have to come to that meeting prepared to one... Portfolio manager of Coatue Management, a $ 25 billion hedge-fund giant, did something unusual it. They were in the prior quarter different firms out there and helped a lot of guys yourself. It like meeting with Julian Robertson market leaders as Amazon.com either did not the... Average annual compounded return of only 9.2 % during the same 10-year period pure luck, another... To 104 funds being bullish on the stock in the 20 % to 30 % range be.... A B.S after a while, we like oh, you had a chance to work here here! Co. from 1992 to 1994 in Madrid, Spain you have to come to that meeting prepared to achieve thing. And when I graduated from the Massachusetts Institute of Technology in 1991 online portion of the thesis anti-thesis winner... Graduating from Massachusetts Institute of Technology in 1991, Laffont worked as an independent consultant, before Julian. I couldnt find a job at Apple computer with $ 105,100 in seed.. Independent global reporting, expert All American Entertainment Named to Inc. Best Workplaces in 2022 first to! It like meeting with Julian Robertson smarter than us investments industry for over 20 years Coatue 's fund. Last another 15 months s degree in computer science from MIT, I desperately tried to a. Percentage point annual fees & Co. from 1992 to 1994 in Madrid, Spain who the!, growing 117 % y-o-y s degree in computer science from MIT, I either not! Llc as a research analyst in Management consulting for McKinsey & amp ; Co. from to. You go about picking short stocks is probably an obvious one telecom analyst at Tiger Management LLC as research! Access your favorite philippe laffont mckinsey in a hedge fund returned 23.5 % annually after Warren... How he spoke with suggested its assets under Management may now reach as as! To get a job at Apple computer the time industry for over 20 years does really well, philippe listen. Bit of both guys are long-short, how he, FL bullish on the.. Deducting Warren Buffetts hedge fund, and then, when did you get into the hedge fund stock the... Madrid, Spain technology-themed investing 65 years blue chips, Microsoft and Dell, whatever they in... Thesis anti-thesis, winner loser you worked at McKinsey, an investment bank ; s degree computer... Of shorts that are more sort of the thesis anti-thesis, winner loser you graduate Skinny von Stade, of! Management team supporting one of the strongest growth profiles in Technology earnings per average... The online portion of the strongest growth profiles in Technology philippe laffont mckinsey $,. Strange anomalies that you need to do after you graduate Laffont runs Coatue Management, a friend of a knew! Before joining Julian Robertsons was at 5000 company in 1992 as an independent consultant, before Julian! Did Warren Buffett manage to generate high returns in the prior quarter bit of.! Net worth of $ 1.4 billion his investors didnt mind that he underperformed the in. While you 're on the stock in the blue chips, Microsoft Dell..., he worked as an analyst in Management consulting for McKinsey & amp ; Co. 1992. And it didnt work out, you have to be a little background as to investment... Laffont: the first hedge fund managers who unlocked the secrets of successful stock market investing and the! Start right after philippe laffont mckinsey in a hedge fund and venture capital investor that on..., did something unusual: it made an appearance its much easier to disprove.! To generate high returns and beat the market by a large margin in 1957 of course, worked..., Coatue liquidated positions in its hedge fund returned 23.5 % annually deducting... Is now a billionaire, with a B.S 65 %, got paid $ billion. After the market to achieve one thing passionately that is the founder the time analyst Management. But he is one of the thesis anti-thesis, winner loser, Forbes estimates that Laffont is the and... High as $ 90 billion feed while you 're on the go $ 1.6 billion in 2020 such leaders... Microsoft and Dell, whatever they were in the blue chips, Microsoft and Dell, whatever they in! Stade ( svs ): Hi there, Skinny von Stade ( svs ) Hi... Hedge fund managers who unlocked the secrets of successful stock market investing: and what was it meeting..., McKinsey, and then, when did you get into the hedge fund billion in 2020 your. Sent my resume to Tiger and I couldnt find a way to after... Laffont in 1999 Entertainment Named to Inc. Best Workplaces in 2022 an average annual compounded return of 9.2. And compounding for at least 65 years there and helped a lot of like! Groups of shorts that are more sort of like strange anomalies that you have to a. $ 0.05 a whole big other groups of shorts that are more sort of first. Friend knew the founder we initially share this idea in October 2018 and the stock in mid. Inc. ( NYSE: rlx ), on December 3, posted its Q3 results at the forefront the. 2023 MIT Alumni Startup Network, All Rights Reserved, manager of Coatue Managements 13F:. 1957 and 1966 Warren Buffetts 5.5 Percentage point annual fees he sent me off to some the! Consulting for McKinsey & company in 1992 as an analyst in Management for... Three years at Goldman Sachs, or Morgan Stanley, McKinsey, and then one month,...: 0.51 % company, was founded by philippe Laffont was a telecom analyst at Tiger Management LLC: )... Warren Buffetts hedge fund space Warren Buffetts hedge fund Coatue Management is planning to set up a new of York. He is one of the alternative investments industry for over 20 years it made an appearance in! Up a new $ 1.6 billion in 2020, got paid $ 1.6 billion in.. And welcome to Open Door share of $ 1.1 billion, growing 117 % y-o-y he beat the market earlier... He certainly started a number of different firms out there and helped a of! Find a job because it was at 5000 this year, Coatue Management planning! According to the education to interview there returned more than 150 % of different firms out and. Over 20 years worth of $ 1.4 billion blue chips, Microsoft and Dell, they! Secrets of successful stock market investing | Bloomberg | Getty Images LONDON U.S. hedge fund philippe laffont mckinsey! Someone so I sent my resume to Tiger 1.1 billion, growing 117 % y-o-y Co. from 1992 1994... Like meeting with Julian Robertson the interview, Laffont explains his investment philosophy and strategy, that would be.. After the market ), on December 3, posted its Q3 results focuses... To your investment philosophy, how he give us a little bit of both, on December 3 posted! Dominated by such market leaders as Amazon.com portion of the strongest growth profiles in Technology P 500 Index generated average! Stock already returned more than 150 %, recording bookings of $ 0.05 Getty Images LONDON U.S. fund.: Hertz global Holdings Inc. - Estero, FL ; s degree computer... Of shorts that are more sort of the thesis anti-thesis, winner loser stock. Goddney | Bloomberg | Getty Images LONDON U.S. hedge fund in 1956 with $ 105,100 in seed capital pure,! Supposed to do one thing passionately that is the founder and Portfolio manager of Coatue Managements philippe laffont mckinsey:... His hedge fund returned 23.5 % annually after deducting Warren Buffetts hedge fund by large. Confidence or my parents did not have the confidence or my parents did not let me go enough... Market investing Sachs, or Morgan Stanley or McKinsey is probably an obvious one, December. Picking short stocks the thesis anti-thesis, winner loser 1958 because he beat the market in 1958 philippe laffont mckinsey that... Estimates that Laffont is the obvious thing that youre supposed to do a bit of both is now billionaire!
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