GMT Capital’s Bay Resource Fund Hit By Consumer Short Bets, Probably Tesla

GMT Capital has released its June letter for the Bay Resource Partners Funds. Like many of the hedge funds ValueWalk covers as of late, Bay Resource Partners continues to underperform the S&P 500. The fund was down 3.3% net for June as the losses in the first half of the month outweighed the gains in the second half. In 2018 through the end of June, Bay Resource is down 4% net, compared to the S&P 500's 2.6% gain year to date.

Bay Resource Partners Fund loses evenly on long, short books

Bay Resource is headed up by President and Senior Portfolio Manager Tom Claugus, who highlighted the fund's energy holdings as key losing positions on the long side, especially during the...