Alluvial Fund Q2 Letter: Underperforming Short-Term, Killing It long Term On Obscure Micro Caps

Alluvial Fund has released its Q2 2018 letter, and although it underperformed the broader market in Q2, it continues to perform well in the longer term. The value investing hedge fund is headed up by Dave Waters, who expects the firm’s assets under management to surpass $22 million by the end of this month. Alluvial Fund underperforms S&P Alluvial lost 0.8% in Q2, while major stock indices returned “respectable gains,” Waters said in the Q2 letter. The fund was down 1.4% last month, but it’s up 2.7% gross and 1.9% net year to date. The S&P 500 is up 2.6%…