Black Bear Value Fund update for the month ended August 31, 2023.
Q2 2023 hedge fund letters, conferences and more
Dear Partners and Friends,
- Black Bear Value Fund returned +3.3%, net, in August and is +17.6%, net, YTD.
- The HFRI Value Index monthly returns were not available and is +9.5% YTD thru July.
- The S&P 500 returned -1.6% in August and is +18.7% YTD.
Please note returns could vary depending on your time of investment.
As you can see, our returns are in-line with the broader S&P 500 despite having a very large short position. While elevated markets make prospecting more challenging, we are fortunate that we can make select sizeable investments and do fine....
