Black Bear Value Fund August 2019 update

Jacob Wolinsky

Published onSeptember 12, 2019

Black Bear Value Fund performance update for the month ended August 31, 2019.

Q2 hedge fund letters, conference, scoops etc

Dear Partners and Friends,

The Fund returned -6.1%, net, in August. YTD +0.2%, net.
The S&P 500 returned -1.6% in August. YTD +18.3%.
The HFRI index returned +0.7% in July. YTD +8.8%.

Some of our central themes (namely media) dramatically under-performed various indices. As prices dropped, the risk/reward became favorable so I bought a lot more. This means we are increasingly concentrated in some prior mentioned themes. Short-term fear/gyrations are our friend despite the short term mark-to-market pain. Q3 letter will discuss more. Your CIO (me) has added to our existing investment in Black Bear...

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Jacob Wolinsky

Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob worked as an equity analyst covering small caps, a micro-cap analyst, doing member development a large hedge fund community and freelance financial writing. Jacob lives with his wife and five kids in Passaic NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal id. Other methods of secure communication are also available. FD: I almost exclusively avoid the purchase of equities to avoid conflict of interest and any insider information. I only purchase broad-based ETFs and mutual funds. I will disclsoe if I have a stake in any company, but in general avoid

Black Bear Value Fund August 2019 update

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