Black Bear Value Fund performance update for the  month ended May 31, 2019.

Q1 hedge fund letters, conference, scoops etc

Dear Partners and Friends,

• The Fund returned -5.7%, net, in May. QTD +0.5%, net. YTD +0.2%, net.
• The S&P 500 returned -6.4% in May. QTD -2.3%.  YTD +10.7%.
• The HFRI index returned . . .
  

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