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Black Bear Value Fund August Commentary – Gains On Credit Shorts

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Jacob Wolinsky
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Black Bear Value Fund commentary for the month ended August 31, 2018.

Dear Partners and Friends,

The Black Bear Value Fund returned approximately 3.2% net in August bringing the 2018 net return to 7.0%.  The S&P 500 returned 3.2% in August bringing the 2018 return to 9.9%.  The HFRI index returned 1.5% in August bringing the 2018 net return to 3.3%.

[munger]

Q2 hedge fund letters, conference, scoops etc

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Black Bear Value Fund

As I have mentioned in prior emails, the S&P 500 is an imperfect comparison and getting more imperfect for our portfolio as time...

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Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob worked as an equity analyst covering small caps, a micro-cap analyst, doing member development a large hedge fund community and freelance financial writing. Jacob lives with his wife and five kids in Passaic NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal id. Other methods of secure communication are also available. FD: I almost exclusively avoid the purchase of equities to avoid conflict of interest and any insider information. I only purchase broad-based ETFs and mutual funds. I will disclsoe if I have a stake in any company, but in general avoid