- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
In 2011, Tiger Global management became a celebrity hedge fund. Its rise to fame was highlighted by 45 percent gains in a market where hedge funds posted average losses of 5.3 percent, and was underscored by big investments in technology and Internet underdogs like Yahoo (NASDAQ:YHOO) and Facebook (NASDAQ:FB).
As a result of the bold and often successful plays of managers Chase Coleman and Feroz Dewan, many investors began closely observing, and even copying, their investments. This helped drive shares of Groupon (NASDAQ:GRPN) up over 8.5 percent on November 20, after the hedge fund disclosed a 9.9 percent stake in the daily-deals company.
The move was particularly interesting at the time because shares had done pretty much nothing but collapse since their IPO. Between the company’s listing on the Nasdaq in November 2011 and the announcement of Tiger Global’s stake in the company, shares had fallen 87 percent, leading some to question Coleman’s judgement.
But those with insight into Coleman’s strategy, or those lucky enough to follow the right pick, have been rewarded for their investment. Shares of Groupon have climbed nearly 57 percent since then, and now an analyst at Sterne Agee has given the stock his seal of approval, driving shares up even further…
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.