Eric DeLamarter's Half Moon Capital produced a return of 8% net of fees in the fourth quarter of 2020, bringing the full-year return to 12.2%, according to a copy of its fourth-quarter letter, which ValueWalk has been able to review. The fund maintained an average net exposure of 45%...
Long/short equity fund Southpoint Capital returned 14.7% in the fourth quarter of 2020, and 28.6% for 2020 as a whole, that's according to a copy of the firm's annual letter to investors, which ValueWalk has been able to review. Q4 2020 hedge fund letters, conferences and more This return compared to...
As amateur investors battled it out with hedge funds in GameStop Corp shares in the last few weeks of January, one hedge fund pocketed large profits. Richard Mashaal and Brian Gonick, the managers of Senvest Management LLC, started buying GameStop shares towards the end of last year. Q4 2020 hedge...
Like the majority of Baupost's investor correspondence over the years, Baupost's 1994 year-end letter contains some valuable insights. However, the year-end letter is difficult to get hold of in full, although ValueWalk has a copy and some analysis. The 1994 letter is also a gem and we recently saw...
Activist hedge fund Third Point LLC recorded a profit of 1.9% in January, according to a copy of the firm's latest performance tear sheet, which ValueWalk has been able to review. These figures seem to suggest that the hedge fund managed to make the most of January's market volatility, as...
Dov Gertzulin's DG Value Funds returned approximately 19.2% in the quarter ending December 31, 2020, according to a copy of the hedge fund's full-year 2020 letter to investors, a copy of which ValueWalk has been able to review. Following the fourth-quarter performance, DG's flagship value strategy ended 2020 with a...
Schonfeld Strategic Advisors's, Schonfeld Fundamental Equity Fund returned 14.14% net in 2020 and the Schonfeld Strategic Partners Fund added 9.88%, that's according to a copy of the firm's fourth-quarter and full-year letter to investors, which ValueWalk has been able to review. Q4 2020 hedge fund letters, conferences and more Schonfeld celebrated...
Some of the best trades during the past few years have been spin-offs. Of course, I'm taking about deals like Kraft Foods Group Inc (NASDAQ:KRFT) / Mondelez International Inc (NASDAQ:MDLZ) and ConocoPhillips (NYSE:COP) / Phillips 66 (NYSE:PSX) both of which have continued to achieve record performances year-to-date. What's more,...
Greenlight Masters, the fund of funds managed by David Einhorn, returned 26.2% net of fees in 2020, outperforming the S&P 500, which returned 18.4% throughout the year. Q4 2020 hedge fund letters, conferences and more According to a copy of the firm's letter, which ValueWalk has been able to review, the...
Sy Jacobs' JAM Partners ended the fourth quarter up 13.8% net, improving its loss to -2.1% for 2020. Q4 2020 hedge fund letters, conferences and more According to a copy of the firm's fourth-quarter and full-year letter to investors, which ValueWalk has been able to review, the long/short hedge fund, which...
In his year-end letter to investors, Mohnish Pabrai, the Managing Partner of Pabrai Investment Funds, explained that 2020 had more impact on his way of thinking about the market than any other year since 1999. Q4 2020 hedge fund letters, conferences and more Following last year's lessons, Pabrai explained he has...
Mohnish Pabrai's flagship hedge fund, the Pabrai Investment Fund II, returned 29.6% in the second half of 2020. Q4 2020 hedge fund letters, conferences and more Following this performance, the fund returned 10.1% net for the year, underperforming the S&P 500 but outperforming the Dow Jones Industrial Average, which returned just...
Gates Capital Management's ECF value fund has earned strong returns for investors since its inception in June 1996. The ECF, or Excess Cash Flow Fund, had returned 12.9% annualized since inception to the end of September 2020. That was compared to 8.9% for the S&P 500 total return index...
Carlson Capital's Black Diamond Arbitrage Partners returned 3.3% net of fees for the fourth quarter of 2020, according to a copy of the firm's fourth-quarter and full-year 2020 letter which has been reviewed by ValueWalk. Following this performance, the fund returned 2.43% net of fees with a 0.38 Sharpe ratio...
In his 2005 letter to the investors of the Nomad Investment Partnership, the firm's co-founder, Nicholas Sleep, declared that the main enduring advantages of a successful investor are "mainly psychological." Q3 2020 hedge fund letters, conferences and more He highlighted his list of the common psychological causes of investor misjudgment, which...
"Assets are priced for eternal delight and negative real interest rates lasting forever," Crispin Odey declared at the start of his December 2020 letter to investors of the OEI Mac fund. The $170 million fund lost -3% in December, according to a copy of an investor tear sheet, which ValueWalk...
Warren Buffett and Charlie Munger have always advocated the art of thinking. This is one of the reasons they have always stood out from the rest of the investment crowd. Q3 2020 hedge fund letters, conferences and more While the rest of Wall Street rushes from investment to investment, barely sleeping...
There are many great value investors. From the legendary like Warren Buffett, Benjamin Graham, Irving Kahn, Seth Klarman, Henry Singleton and Julian Robertson to the less known but still important figures like Wally Weitz, Charles Brandes and Walter Schloss. All of these investors have managed to outperform the market year...
Warren Buffett’s early correspondence to Berkshire Hathaway shareholders contains many nuggets of information that investors can learn from. And it’s not just value investors that can learn from Buffett’s early correspondence. Indeed, Buffett’s letters to Berkshire shareholders in the early 1970s don’t cover equity holdings. At the time, Berkshire was...
Dov Gertzulin's DG Value Partners recorded a strong end to 2020, helping the firm cap off the year on a positive note. Q3 2020 hedge fund letters, conferences and more According to a copy of the firm's latest investor tear sheet, which ValueWalk has been able to review, DG's flagship fund...
After an incredibly impressive 12.9% return in November and a 4.8% return in December, KG Investments Fund finished 2020 with a total positive return of 15.7%, slightly underperforming the S&P 500 index, which returned 18.4% for the year. That's according to the group's latest investor tear sheet. Q4 2020 hedge...
According to data compiled by hedge fund data group HFR, the gap between the top and bottom performing hedge funds hit the highest level in 2020 for 11 years. Q3 2020 hedge fund letters, conferences and more The data shows that for the 12 months to the end of November, the...
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