This Hedge Fund Is Buying Tobacco As It Believes Vaping Scare Is “Overdone”

The Tyro Absolute Return Fund gained 6.4% net in the third quarter of 2019 compared to the S&P 500’s return of 1.9%. Following this performance, the fund is up 17.2% year-to-date, compared to a return of 20.6% for the S&P 500 total return index according to a copy of the firm’s third-quarter letter to investors, which ValueWalk has been able to review. Q3 2019 hedge fund letters, conferences and more For more up-to-date hedge fund content, and exclusive access to value-focused hedge fund managers, check out Hidden Value Stocks. The Market Is Becoming “Increasingly Inefficient” Writing in the “market commentary” section…