Lone Pine Warns Of 'Eye-Popping' Valuations At Start-Ups

The valuation complacency in the markets is providing a good hunting ground for short positions, said Lone Pine Capital in a quarterly letter seen by ValueWalk. The hedge fund founded by Tiger cub Steve Mandel had a below par performance in most of its strategies in 2014. The best return was churned out by Lone Tamarack, which netted a 4.4% return last year. Other strategies including Lone Cypress, Lone Kauri and Lone Cascade were up by just 0.2%, 0.9% and 2.7% respectively.

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Lone Pine says private start-ups have some troubling valuations

The fund said that some technology companies have managed...