market folly

In an amended 13D filing with the SEC, Chase Coleman's Tiger Global Management has disclosed a 17.7% ownership stake in Longtop Financial Technologies (LFT) with 8,951,065 aggregate amount of shares beneficially owned due to activity on March 9th, 2009. This is a slight decrease from their 10,083,165 shares that they owned as listed in their most recent 13F filing which disclosed shares held as of December 31st, 2008. So, in the past 3 months, they have decreased their position somewhat. The amened 13D lists a secondary sale of 1,132,100 shares on March 9th at a price of $17.69 a share. You can view the rest of Tiger's Q3 2008 portfolio here.

Chase Coleman attended Williams College and started Tiger Global with the blessing of Julian Robertson after learning his ways at Tiger Management. His focus has always been on smaller cap names and on technology. Although, he has since expanded his horizons with time. In 2007, Tiger Global returned 70%, and from 2001-2007, Coleman bolstered an average return of 47%.

Taken from Google Finance, LFT is "a software developer and information technology (IT) services provider targeting the financial services industry in China. The Company develops and delivers a range of software solutions with a focus on meeting the IT needs of financial institutions in China."