Tiger Global Defanged in February; Hot Shot Fund Now Down 22% For the Year

Chase Coleman III was born to be a hedge fund manager. He descends upon America with a bloodline dating back to the nebulous first governor of New Amsterdam, Peter Stuyvesant.

As a young lad running about the mansions of Oyster Bay, Long Island, he befriended the son of legendary investor, Julian Robertson. The rest is history. Chase was granted an opportunity to become a Tiger Cub and showed exemplary energy and had a keen eye out for tech start ups.

“It’s all very well and good to make money in a bull market”. Let’s see you do it in the bear,” a great man once said. Back in 2008, Coleman was rocked for 28%. Dare I say, after a debilitating drawdown of 8.5% in February, it’s happening again.

Hedge fund Tiger Global Management, known for making big bets on technology companies, lost 8.5 percent last month, leaving it down 22.5 percent for the year to date, a person familiar with the numbers said.

The 15-year-old firm oversees a total of $20 billion. Last year, Scott Shleifer replaced Feroz Dewan, who left the firm, in running its public equity business.

In a letter sent to Tiger Global clients earlier this year, the firm acknowledged the rocky start to the year, saying, “Our longs declined considerably but our shorts have not gone down nearly as much.”

Tiger Global is known for making retarded, concentrated, bets on low brow tech companies. His massive losses of 22 some odd percent can be most attributed to cataclysmic declines in RH, DATA, JD and ATHM, just to name a few.

Rumor has it that the boys over at the prim and proper Holland Society in NYC are quite displeased and taken aback by Mr. Coleman III and have let it be known that Governor Stuyvesant would be abhorrently ashamed at the young man for exhibiting inadequate business sense when faced with conditions deemed ‘less than optimal’ for monied men of property.

Chase’s checkered pants have been suspended for an undetermined timeframe.