Massif Capital commentary for the third quarter ended September 30, 2019.
Q3 2019 hedge fund letters, conferences and more
Dear Friends and Investors,
The core portfolio of Massif Capital was down -7.47% during the second quarter of 2019, bringing the year-to-date performance to -5.72%. In what has become an odd inter-quarter seasonality this year most of the losses came in the final weeks of the quarter and much of that sell off reserved itself in the first two weeks of the next quarter. A detailed report on individual account performance will be provided to investors in the coming days.
Portfolio Context
Looking around the world, we find ample reason to be optimistic about our portfolio. We will touch upon a few reasons...
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