This financials hedge fund which is crushing the KBW Bank Index likes Puerto Rican banks

Jacobs Asset Management was up 1% for April through April 17, bringing its year-to-date return to -15.6% through that date. The S&P 500 is down 10.5%, and the KBW Bank Index is down 37.6% over that same timeframe.

Q1 2020 hedge fund letters, conferences and more

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In his mid-April letter to investors, which was reviewed by ValueWalk, Sy Jacobs said the fund has been in market-neutral range for most of the month. It started the month 3% net long, averaged 0% and ended April 17 at 4% net short. As financial stocks rallied, the fund was up 4.9%...