Timing on Tesla short helped drive performance for this hedge fund in 2019

Aristides Fund LP was up 1.81% for December, while Aristides Fund QP was up 1.72%. For all of 2019, each of the two funds gained about 11.5%. Across both funds, management added about 76 basis points of net alpha in December. In all of 2019, the funds added about 385 basis points of net alpha.

Short positions in Tilray and Tesla led the way

Portfolio manager Daniel Nall said in his December letter to investors, which was reviewed by ValueWalk, that their shorts in Tilray and Tesla were their two biggest contributors this year. This is particularly interesting because it certainly wasn't an...