Teton Capital Partners Q2 Letter: $46 Million Lost On One Position This Year

Teton Capital Partners released its Q2 2018 letter to investors. The fund was down 0.27% gross and down 0.22% for the month of June. Year to date, Teton Capital is up 0.2% net, compared to the S&P 500's 2.6% gain.

Teton Capital struck by E-Mart, Hanssem and short book

In the Q2 letter, the Teton Capital team attributed most of its losses to Hanssem and E-Mart. The hedge fund slashed its long position in E-Mart by about 200 basis points during the first quarter because of the run-up in the stock price. The fund's managers were also concerned that increases in minimum wage could pressure the company's operating margins. That assessment turned out to be correct, but the fund said in...