Pabrai Funds Springs Back After Horsehead

The Pabrai Funds – the hedge funds managed by value investor Mohnish Pabrai — have sprung back into life during the third quarter of 2016 after several quarters of underperformance. The three funds were up between 14.4% and 15.8% in the last quarter – meaningfully better than all three indices. Year-to-date the funds are down between 9% and 5.5% and last year the funds lost between 30% and 15%, according to a third quarter letter to investors reviewed by ValueWalk.

All of Pabrai's losses of the past two years can be traced back to one position: Horsehead.

Also see

• Q3 2016 hedge fund letters
• Q2 2016 hedge fund letters

Pabrai Funds and Horsehead

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Mohnish Pabrai’s Pabrai Funds are...