Pegasus Fund Killing it in 2013, Up 41 Percent

For a long/short equity hedge fund, Clareville Capital's Pegasus Fund is killing it this year. While the August numbers are very dull, the fund has netted a 41 percent gain through August of this year. The hedge fund was down 4.9 percent in the last month.

David Yarrow jokes in the monthly letter about how dismal August is for hedge funds and how most fund managers suffer through losses at these times when market news is slow and most people in the business...