Corsair – Market Is Undervaluing Local Broadcasting Media Special Situation

As Corsair Capital Management looks back on its second quarter in a letter to investors reviewed by ValueWalk, it might take solace in the fact that its Corsair Select, up by 3.9%, beat the S&P 500, which posted a 3.1% after more than doubling that performance in the first quarter on the Trump rally train. Corsair Capital was up 2.3% over the same period. When looking at the underpinnings of the Trump rally and the recent past for central bank interest rate hikes, Corsair, noting odd complacency, thinks there is potential for the term “past performance may not indicate future results” to come into play. Macro picture aside, the New York-based long / short hedge fund, run by...