By Pete Gallo
Early January saw biting cold weather on Wall Street that
seemed to bring a big chill even to the NYSE, but you wouldn't
know that from the warm glow coming from certain picks in Lee
Ainslie's portfolio at Maverick Capital.
Some of Maverick's stock picks were downright red hot in the
opening weeks of 2009, especially in small-cap names, many of
which had ended 2008 smaller than ever.
Maverick even managed to see double-digit gains across a
number of individual positions in the biotech and tech sectors.
PDA-maker Palm and drugmaker Cypress Bioscience had been less
than all-stars going into the new year, which no doubt helped
them surprise a market otherwise devoid of cheery news.
Cypress Bioscience was trading at $6.84 on December 31, but
had jumped to $9.61 by January 15. Remarkably, most of that
gain came in a single session, rising a stunning 24.5%...