Alluvial Likes Contura Energy Post-Bankruptcy

Dave Waters has vowed to show more patience with his investments after Alluvial Capital Management Global Focused Value Fund returned 10.8% last year, underperforming comparable indexes in the face of soaring U.S. small-caps and micro-caps. according to a letter to investor reviewed by ValueWalk. Also see 2016 Hedge Fund Letters Global Focused’s return was nearly half that of Russell 2000’s 21.13% and Russell Microcap Index’s 20.5%. Its Global Quality & Income Fund yielded 8.2%, outperforming the 5.5% equal-weighted index of MSCI ACWI SC and Barclays US Agg. Bond Index. “This year’s largest shortcoming in my decision-making process was a lack…