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How a 23-year-old hedge fund wunderkind blew a $350 million opportunity

Last spring,
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In the 20 years since its founding, the secretive, tech-focused investment manager has had a stellar track record under the billionaire Philippe Laffont. But the tiger cub usually demurred when it came to discussing business publicly.
In May 2019, though, two Coatue execs spoke for nearly 45 minutes to a crowd of data-science wonks at Domino Data Lab s Rev conference.
What compelled Coatue to pull back the curtain?
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The firm had announced in an investor letter a few months earlier that it was raising several hundred million dollars to launch its first quant fund, an outgrowth of a data-science group that had been expanding under Izydorczyk. The firm boldly predicted that its team of 30 scientists and engineers would eventually reach 100. ....

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IPO frenzy goes into overdrive - Inside Coatue's short-lived quant fund - Blackstone TV

IPO frenzy goes into overdrive - Inside Coatue s short-lived quant fund - Blackstone TV
Meredith MazzilliDec 12, 2020, 21:02 IST
Blackstone cofounder and CEO Stephen Schwarzman.Reuters/Shannon Stapleton
Happy Saturday!
It was a wild week for IPOs. Now, one company is taking a time out. Roblox is delaying its initial public offering until next year after the video game maker decided it would be too difficult to price its shares, the
Wall Street Journal reported on Friday night.
We took a look at what s been driving the
IPO rush and enormous pops in early days of trading for big names like Airbnb and DoorDash. From Alex Morrell: ....

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Top finance stories from the week of December 7

The Airbnb logo is displayed on the Nasdaq digital billboard in Times Square in New York on December 10, 2020. - Home-sharing giant Airbnb was set for its Wall Street debut Thursday with a whopping $47 billion valuation amid a feverish rush for new shares in companies adapting to lifestyle changes imposed by the coronavirus pandemic. (Photo by Kena Betancur / AFP) (Photo by KENA BETANCUR/AFP via Getty Images)
KENA BETANCUR/AFP via Getty Images
From Dakin Campbell:
In April, just weeks after the raging coronavirus pandemic threatened to shut down the US economy, Silver Lake Partners and Sixth Street Partners made a bold bet. ....

Jon Stein , Carter Johnson , Steve Schwarzman , Dan Defrancesco , Joe Biden , Bill Foley , Belinda Johnson , Chinh Chu , Dakin Campbell , Hugo Boss , Philippe Laffont , Cole Haan , Chidi Achara , Kimberly White Getty , Bradley Saacks , Rebecca Ungarino , A Goldman Sachs , John Lamparski Getty , Alex Morrell , Alex Izydorczyk , Norwegian Cruise Line , Wall Street Journal , From Alex Morrell , Getty Images , Business Insider , Sarah Kirshbaum Levy ,

IPO frenzy goes into overdrive - Inside Coatue's short-lived quant fund

IPO frenzy goes into overdrive - Inside Coatue s short-lived quant fund - Blackstone TV
[email protected] (Meredith Mazzilli)
Happy Saturday!
It was a wild week for IPOs. Now, one company is taking a time out. Roblox is delaying its initial public offering until next year after the video game maker decided it would be too difficult to price its shares, the Wall Street Journal reported on Friday night.
We took a look at what s been driving the IPO rush and enormous pops in early days of trading for big names like Airbnb and DoorDash. From Alex Morrell:
Not since the days of Y2K, GeoCities, and eToys.com have initial public offerings garnered such unbridled enthusiasm from investors. ....

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