A hedge fund is up 223% this year on big bets on tech stocks

At the end of 2020, Mandeep Manku made a big contrarian bet.

His hedge fund, Coltrane Asset Management, was hit hard when the market crashed because of Covid-19. He decided to pivot Coltrane’s portfolio from favoring low-cost European companies to betting against technology companies and other fast-growing companies in the US Market with lots of stocks. trading at 10x their revenue, with enthusiasm focused on a few areas, “always ends poorly for investors,” Coltrane told clients in a September presentation. 2020.

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