Black Bear Value Fund August Commentary – Gains On Credit Shorts – ValueWalk Premium

Black Bear Value Fund August Commentary – Gains On Credit Shorts

Black Bear Value Fund commentary for the month ended August 31, 2018.

Dear Partners and Friends,

The Black Bear Value Fund returned approximately 3.2% net in August bringing the 2018 net return to 7.0%.  The S&P 500 returned 3.2% in August bringing the 2018 return to 9.9%.  The HFRI index returned 1.5% in August bringing the 2018 net return to 3.3%.

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