This hedge fund is winning by focusing on lesser-known EM names

Moon Capital Global Equity Partners was up 2.5% net for the third quarter. For the first nine months of the year, the fund is up 6.4% net.

Q3 2019 hedge fund letters, conferences and more

The fund has changed things up over the last 12 months, and John Moon is "encouraged" by the turnaround they have witnessed. Over the last 12 months, they have focused more on emerging markets by eliminating several developed market positions and weighting their best ideas more heavily. They noted that market trends haven't been helpful for the fund's positioning, but...