U.S. higher-education stocks fell 48 percent from April to October last year as the federal government proposed tighter regulation and short sellers led by hedge-fund manager Steve Eisman targeted for-profit colleges.
Lee Ainslie’s Maverick Capital Management LP, Steve Mandel’s Lone Pine Capital LLC and Ricky Sandler’s Eminence Capital LLC are beating global markets in 2012 as most stock hedge funds underperform for a fourth straight year.
Chuck Akre beat 99 percent of peers over more than a decade picking stocks based on price and ignoring much of what happened in the economy and government. He changed his approach after his fund declined 34 percent in 2008.
Lee Ainslie’s Maverick Capital Ltd. hedge fund sold 61 percent of its stake in Lorillard Inc., previously the largest holding, and bought shares of Qualcomm Inc. and Staples Inc., according to a regulatory filing.
U.S. stocks fell, sending the Standard & Poor’s 500 Index to a six-week low, as concern that European government debt levels will derail the global recovery overshadowed growth in American service industries and jobs.
Robert Diamond, who today stepped down as chief executive of Barclays Plc, will no longer co-host a London campaign fundraiser this month for presumptive U.S. Republican presidential nominee Mitt Romney, campaign spokeswoman Andrea Saul confirmed.