Black Bear Value Fund May 2018 Commentary

Black Bear Value Fund commentary for the month ended May 31, 2018.

The Black Bear Value Fund returned approximately -1.4% in May bringing the 2018 net return to -0.6%. The S&P 500 returned +2.4% in May bringing the 2018 net return to +1.9%.

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Fund Strategy

Black Bear Value Fund, LP is an opportunistic, concentrated and fundamental value investment partnership. The Investment Manager seeks to preserve capital and achieve long term capital appreciation with sensible risk by focusing on the margin of safety of an investment. We view risk as the probability...