Lone Pine Capital records 2019 gains as it warns of dangerous markets ahead amid political uncertainty

Lone Pine Capital reported strong gains for its Lone Cypress and Lone Cascade funds in the fourth quarter and 2019. The Lone Cypress fund was up 12.2% gross and 11.1% net for the fourth quarter and 35.5% gross and 29.9% net for all of 2019. The Lone Cascade fund was up 14.4% gross and 13.3% net for the fourth quarter and 36.7% gross and 35.1% net for all of 2019.

"Accommodating" macro backdrop

In their fourth-quarter letter to investors, which was reviewed by ValueWalk, the Lone Pine Capital team said the macro backdrop for equities is still "accommodating" with low interest rates...