Massif Capital: Long Position In Bakkafrost P/F (BAKKA)

Massif Capital reveals a long position in Bakkafrost P/F (BAKKA).

Q1 2020 hedge fund letters, conferences and more

Dear Friends and Investors,

To suggest that this year has been a difficult one for capital allocation would be an understatement. The volatility of equity markets has been dramatic, and the dissonance between the economy and financial markets appears to be reaching unprecedented extremes. Despite these challenges, there are still opportunities to deploy capital into reliable businesses at attractive prices.

Although we favor adding more short exposure to the portfolio at the moment, we cannot pass up opportunities to add businesses like Bakkafrost to the long book. Companies like Bakkafrost are becoming increasingly rare in a world obsessed with debt fueled growth. Not...