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Gold Generated Nearly 90 Percent of This Hedge Fund’s Returns in Q3

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Michelle deBoer-Jones
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Noster Capital was essentially flat for the third quarter, returning -0.3% and underperforming the S&P 500's 5.5% return. However, the fund is up an impressive 28.3% year to date, outperforming the S&P 500's 20.8% return by 7.5%.

Noster Capital is also outperforming the S&P on a cumulative basis since refining its strategy in 2019, returning 129% versus the index's 93% return.

In their third-quarter letter to investors, which was obtained by Hedge Fund Alpha, Pedro de Noronha and Diego Tremiterra noted that the U.S. equity markets soared to record highs on the back of robust performances from the Magnificent Seven, most of which are trading at extremely expensive valuations.

They actually didn't follow the herd into these stocks, choosing instead to follow...

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Michelle deBoer-Jones is editor-in-chief of Hedge Fund Alpha. She also writes comparative analyses of stocks for TipRanks and runs Providence Writing Services. Previously, she was a television news producer for eight years, producing the morning news programs for NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spending a short time at the CBS affiliate in Huntsville.