Lone Pine’s hedge fund Cypress drops about 30% in Q3, erasing its 44% gain

TREE NEWS reports: According to people familiar with the matter, Lone Pine Capital’s hedge fund Cypress fell about 30% in the third quarter, giving back nearly all of the 44% gain it had racked up from the start of the year through the end of June. The fund dropped roughly 25% in July alone and continued to lose momentum over the following months, leaving it with a year-to-date return of just 0.6% as of the end of September.