Despite Help From Carl Icahn And Paul Singer, Carlson Capital Flattish As Shorts Struggle

Carlson Capital’s Black Diamond Energy Fund had what can only be described as a disappointing end to 2016. During a year in which the price of oil roughly doubled, and the equity values of many oil explorers rose back to near pre-crash levels, Carlson’s Black Diamond Energy produced a return of only 1.92% net for the year. According to Black Diamond’s fourth-quarter and full-year 2016 letter, a copy of which has been reviewed by ValueWalk, during the fourth quarter the fund lost 2.5% bringing returns for the year down to 1.9%. Since inception (February 1, 2015) the fund has returned…