Trade Like This Hot Hedge Fund

I like to learn from the stock picks and styles of the great investors and traders. Along these lines, I like looking at the 13F-HR filings made by institutions and funds with more than $100 million in stock -- filings that are required by the SEC every quarter.

At Stockpickr.com, we strive to track the investments of every major hedge fund, mutual fund and mega investor, and I plan to pick an investor once a week and write an article based on their 13F-HR filings to get a sense of their approach and offer a look at their picks.

This week, I am highlighting Lone Pine Capital, which was started in 1997 by Steven Mandel, a former managing director and analyst at Tiger Management. In 2007, according to Bloomberg, Lone Pine returned 46.5%, handily crushing the average 11% returned by hedge funds that year.

Neither a growth nor value investor, Mandel looks for good companies run by smart people, with stock valuations below what he deems to be fair market value. ...