Firefly Value Partners Blames Losses In WTW Short On “Large Investor”

Firefly Value Partners, a value-orientated hedge fund, with David Einhorn backing, and $482 million of assets under management, lost 3.3% for the fourth quarter of 2015 but gained 5.9% for the year, according to the fund’s full-year letter to investors as seen by ValueWalk. Foundry Value Fund 4Q15 Letter To Partners From the fund’s launch (July 2, 2007) to the end of 2015 Firefly has compounded at 5.8% annually compared to the S&P 500 which has delivered a compounded return of 5.9% annually for the same period. For the full-year Firefly Value Partners long exposure averaged 104%, short exposure averaged 61%,…