Black Bear Value Fund performance update for the month ended January 31, 2021.
Q4 2020 hedge fund letters, conferences and more
Dear Partners and Friends,
- Black Bear Value Fund, LP (the “Fund”) returned +1.1%, net, in January.
- The HFRI returned +0.7% in January.
- The S&P 500 returned -1.0% in January.
Statements should be arriving by the end of the day today. Our audit was completed and financial statements were sent to all investors.
We are finding interesting and below-the-radar opportunities both domestically and internationally. Our investments are both safe (healthy balance sheets/lack of leverage) and cheap. Our prospects seem encouraging.
Please note returns could vary depending on your time of investment.
Thank you for...

