Lee Ainslie Predicts A Return To Fundamental Investing – A Boon For His Maverick Capital [Q2 Letter – Exclusive]

Lee Ainslie's Maverick Capital has had a rough year so far. The S&P 500 tanked 16% during the second quarter, bringing its year-to-date return to -20%. Investors worried about persistent inflation and the level of aggressiveness employed by the Federal Reserve in response to it.

Other concerns that dragged stock market returns lower included the possibility of a recession and geopolitical issues. All of these worries drove equities into bear market territory for the first time since the pandemic began.

Q2 2022 hedge fund letters, conferences and more

History Repeating Itself

In fact, the first six months of the year ended up being the S&P's worst first half since 1970 and the...