Clint Carlson Sees A Soft Landing As “Implausible At Best” [Exclusive]

Carlson Capital's Double Black Diamond Fund gained 0.96% net for February, bringing its year-to-date return to 2.66%. The main driver of the fund's performance continued to be its equity relative value strategy, although its event-driven strategy also made a "solid" contribution to its February return.

In his March letter to investors, which was obtained by ValueWalk, Clint Carlson said the Double Black Diamond Fund's main area of weakness was its center book. However, some of its strategic investments and macro hedging strategies also declined by small amounts.

Carlson reported that fund leverage rose slightly in February as their equity relative value books became more fully invested. He added that the fund's beta versus the S&P 500 remained roughly flat at 0.09, although...