Investing
Stock Hedge Funds Erase Billions With Another Year of Losses
- Back-to-back declines reach more than 40% at some firms
- Whale Rock, Light Street and Perceptive among big losers
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In 2020, tech-heavy hedge fund Light Street Capital Management posted a banner year on bets including Amazon.com Inc. and Alibaba Group Holding Ltd.
That was the last of the good times. The firm, along with other once-high-flying stock hedge funds, is coming off a second year of losses that erased billions of dollars in clients’ wealth.