An $11 billion tech-focused hedge fund scored a 52% gain by betting on Tesla and against scandal-ridden Wirecard this year, a report said

  • Coatue Management scored a 52% gain this year by betting on Tesla and against German fintech Wirecard, the Financial Times reported.
  • The $11 billion tech-focused hedge fund is run by “Tiger cub” Philippe Laffont, who previously worked at billionaire Julian Robertson’s Tiger Management.
  • Coatue held 3.1 million Tesla shares at the end of the third quarter that are now worth $1.3 billion, the FT said.
  • The fund’s performance eclipses the average 17% return gained by tech-focused hedge funds this year.
  • Visit Business Insider’s homepage for more stories.

New York-based Coatue Management has been one of the best-performing big hedge funds in 2020, scoring a gain of 52% through November. 

Coatue made its notable gain by betting on Elon Musk’s fast-rising automaker Tesla and against scandal-plagued German payments processor Wirecard, according to the Financial Times. 

The tech-focused fund makes long-short investment strategies, meaning that it buys equities that

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Make an impact: 10 tech-focused D&I nonprofits worth donating to

BIPOC workers, women and LGBTQ+ employees still face an uphill battle in the tech industry when it comes to representation, pay equity and workplace discrimination.

According to data from CompTIA, men hold 80% of executive roles in the tech sector compared to 20% for women, and the industry employs a higher share of white workers (69%) when compared with other industries (63%). African Americans account for only 7% of tech workers, while Hispanics represent 8%, and women represent 36%. And as tech jobs become some of the highest-paying and most reliable jobs in the economy, it’s increasingly important to push for diversity and inclusion to prevent people from being shut out from these lucrative, high-growth careers.

Several nonprofit organizations are dedicated exclusively to this cause. If you or your organization are looking to make an impact, consider donating to or supporting any of these 10 worthy nonprofit organizations focused on

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Google to Face a New Regulator as U.K. Plans Tech-Focused Agency

(Bloomberg) — The U.K. government approved plans for a separate regulatory program for companies including Facebook Inc. and Google, saying the new competition unit would be given powers to impose fines to rein in the dominance of the largest tech companies.



a flat screen television: The Facebook Inc. logo sits on screens ahead of the global launch event of "Workplace" at the Facebook Inc. offices in London, U.K., on Monday, Oct. 10, 2016. Workplace is meant to help employees collaborate with one another on products, listen to their bosses speak on Facebook Live and post updates on their work in the News Feed.


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The Facebook Inc. logo sits on screens ahead of the global launch event of “Workplace” at the Facebook Inc. offices in London, U.K., on Monday, Oct. 10, 2016. Workplace is meant to help employees collaborate with one another on products, listen to their bosses speak on Facebook Live and post updates on their work in the News Feed.

The Digital Markets Unit will be housed inside the antitrust regulator from April, with powers to enforce a new code of conduct and potentially “suspend, block and reverse decisions of tech giants,” the U.K government said Friday.

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The move comes after the Competition and Markets Authority called

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