Thread Stacey Abrams and DNC Cartel / Original thread
What this investor could not have imagined is that the geeky tech analyst would one day run…
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December 2, 20232 posts2 source URLs1 archived media item
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"What this investor could not have imagined is that the geeky tech analyst would one day run one of the world’s largest private-investment firms and that he would also become both a central player in a frenzied years-long global tech bubble — one driven by “unicorn” companies trading at absurd valuations — and its bursting over the past six months. The guy who started as a shy analyst would put up impressive gains for years, then suffer mind-boggling losses: $25 billion (and counting) as of June, a record figure even in the lofty world of hedge funds.
The meltdown at Coleman’s firm, named Tiger Global in a nod to his mentor, is one for the ages. “Their losses look to be the biggest in the history of hedge funds,” says one hedge-fund manager, ticking off other notable contenders for that unfortunate title. Tiger Global’s drubbing far surpasses that of Bridgewater Associates, the world’s largest hedge fund, which lost $12 billion in 2020, or Melvin Capital Management, the now-infamous target of the Redditor-led short squeeze of GameStop shares in 2021, which cost it $6.8 billion. Long Term Capital Management, the most notorious hedge-fund blowup of all time, shed a mere $4.6 billion when it almost collapsed in 1998.
Robertson, a Wall Street titan often mentioned in the same breath with fellow hedge-funder George Soros, also has a place on that list of big losses after suffering a tough streak at the end of an otherwise brilliant career. Robertson was defeated by the dot-com mania of the late ’90s — he could never bring himself to buy into the bubble. He shut down Tiger Management in 2000 after losing several billion dollars betting against the hype."
"What this investor could not have imagined is that the geeky tech analyst would one day run one of the world’s largest private-investment firms and that he would also become both a central player in a frenzied years-long global tech bubble — one driven by “unicorn” companies trading at absurd valuations — and its bursting over the past six months. The guy who started as a shy analyst would put up impressive gains for years, then suffer mind-boggling losses: $25 billion (and counting) as of June, a record figure even in the lofty world of hedge funds.
The meltdown at Coleman’s firm, named Tiger Global in a nod to his mentor, is one for the ages. “Their losses look to be the biggest in the history of hedge funds,” says one hedge-fund manager, ticking off other notable contenders for that unfortunate title. Tiger Global’s drubbing far surpasses that of Bridgewater Associates, the world’s largest hedge fund, which lost $12 billion in 2020, or Melvin Capital Management, the now-infamous target of the Redditor-led short squeeze of GameStop shares in 2021, which cost it $6.8 billion. Long Term Capital Management, the most notorious hedge-fund blowup of all time, shed a mere $4.6 billion when it almost collapsed in 1998.
Robertson, a Wall Street titan often mentioned in the same breath with fellow hedge-funder George Soros, also has a place on that list of big losses after suffering a tough streak at the end of an otherwise brilliant career. Robertson was defeated by the dot-com mania of the late ’90s — he could never bring himself to buy into the bubble. He shut down Tiger Management in 2000 after losing several billion dollars betting against the hype."