Tiger Global starts year on a sour note
Bloombergquint.com reported (link below), that Chase Coleman’s Tiger Global hedge fund lost -23% so far in 2022.
When looking at top 5 stock positions held by Tiger Global (as reported on their latest 13F fillings as of December 2021), we can see why performance is so dismal.
Some high-conviction positions in Tiger’s portfolio got hit very hard in 2022.
JD.com sold off this year in tune with other Chinese stocks, some of which are down more than -70%. War in Ukraine spooked markets world-wide. Chinese investors are looking at Western sanctions against Russia and Russian oligarchs and consider the consequences of potential conflict between China and Taiwan. Also, Chinese regulators are targeting e-commerce platforms and slower consumer spending lowered China economic growth for this year from last year.
Sea LTD stock was trading as high as $350 per share in October 2021 and now it is trading round $92. Last week Macquarie analyst Zhiwei Foo lowered his price target from from $285 per share to $110.
Brazilian fintech Nu Holdings lost -33% since company had IPO in December 10, 2021. With rising interest rates and shaky geo-political situation, growth companies like NU are our favor. Although NU is backed by famous investors like Sequoia Capital and Berkshire Hathaway, the company is still reporting yearly net losses and revenue growth is uneven.