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In This Market Environment, Not Even A Former College Lacrosse Player Who Can Trace His Lineage To Peter Stuyvesant Is Safe: WSJ

Chase Coleman, sadly, knows what we're talking about.
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Has the whole world gone mad? What's next, descendants of the Mayflower not getting into Harvard early decision? People whose names end in "IV" or "V" getting bumped for some upstart couple in the New York Times wedding section?

Charles “Chase” Coleman, the hedge-fund manager famed for his early bets on startups including Facebook Inc. and Zynga Inc., has suffered big losses this year as the technology boom wanes, according to people familiar with the matter. Mr. Coleman’s Tiger Global hedge fund plunged 22% in the first quarter, making it one of the industry’s worst performers this year, the people said. The losses amount to more than a billion dollars on paper for Tiger Global’s hedge fund, and potentially more for its larger private-equity and venture-capital operation...A former Williams College lacrosse player and a descendant of New York founder Peter Stuyvesant, Mr. Coleman got a job working for hedge-fund veteran Julian Robertson, who was the father of one of his childhood friends. He later struck a deal with Mr. Robertson for financial backing to start his own firm in 2001 in exchange for a cut of fees earned going forward.

Tiger Global Hedge Fund Plunges on Amazon, Netflix, Other Bets [WSJ]


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