Black Bear Value Fund November 2019 Update

Black Bear Value Fund update for the month ended November 30, 2019. Q3 2019 hedge fund letters, conferences and more Dear Partners and Friends, The Fund returned +6.1%, net, in November.  YTD +7.2%, net. The S&P 500 returned +3.6% in November.  YTD +25.5%. The HFRI index returned +1.3% in November.  YTD +10.8%. The timing of your investment could result in different returns, so please consult your statement which should be arriving shortly from our fund administrator….